Deposit of District Funds; Limitation.

  1. Law
  2. Michigan Compiled Laws
  3. The Revised School Code
  4. 451 of 1976 - The Revised School Code (380.1 - 380.1853)
  5. (380.805...380.1644)
  6. Part 16 Boards of Education; Powers and Duties Generally (380.1201... 380.1349)
  7. Deposit of District Funds; Limitation.

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Sec. 1222.

A bank whose combined capital and surplus exceeds $50,000.00 may receive deposits of funds in an amount not more than double the combined capital and unimpaired surplus of the bank.

History: 1976, Act 451, Imd. Eff. Jan. 13, 1977
Popular Name: Act 451


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