Forfeiture of Security to Pledgee or Assignee.

  1. Law
  2. Michigan Compiled Laws
  3. Public Utilities
  4. 182 of 1971 - Loans to Cities or Villages Owning Public Utilities (460.461 - 460.463)
  5. Forfeiture of Security to Pledgee or Assignee.

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Sec. 3.

A pledge or assignment may allow forfeiture of the security to the pledgee or assignee for default or noncompliance with the terms of the loan.

History: 1971, Act 182, Imd. Eff. Dec. 20, 1971


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