PocketLaw | Michigan Compiled Laws | 314 of 1965 - Public Employee

314 of 1965 - Public Employee Retirement System Investment Act (38.1121 - 38.1141)

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Section
38.1121-38.1131

Repealed. 1982, Act 55, Imd. Eff. Apr. 6, 1982.

Section
38.1132

Short Title; Meanings of Words and Phrases.

Section
38.1132a

Definitions; A.

Section
38.1132b

Definitions; D to G.

Section
38.1132c

Definitions; I to L.

Section
38.1132d

Definitions; N to P.

Section
38.1132e

Definitions; S.

Section
38.1132f

Definitions; V.

Section
38.1133

Investment Authority; Investment Fiduciary; Investing, Reinvesting, Holding in Nominee Form, and Managing Assets of System; Powers and Duties; Compliance With Divestment From Terror Act; Costs; "Consumer Price Index" Defined; Disclosure of Fees or Other Compensation by Investment Service Provider; "Investment Service Provider" Defined; Prohibited Acts; Exceptions; Requirements; Debt Instrument Issued by Foreign Country; Out-of-State Travel; Investment in Hazardous Waste Deep Disposal Well Facility; Testimony by Representative of Office of Retirement Services in Department of Technology, Management, and Budget; Executive Summary of Summary Annual Report; Posting on Website; Submission to Legislature; "State Unit" Defined.

Section
38.1133a

“Macbride Principles” Defined; Duties of Investment Fiduciary; Effect of Unlawful Principle.

Section
38.1133b

Repealed. 1993, Act 214, Imd. Eff. Oct. 27, 1993.

Section
38.1133c

Definitions; Effort by Fiduciary to Identify Scrutinized Companies; Assembly Into Scrutinized Companies List; Update and Availability of List; Procedures; Report; Effectiveness of Section; Exemption of Fiduciary From Conflicting Statutory or Common Law Obligations; Liability; Affirmative Exclusion From Federal Sanctions; Severability.

Section
38.1133d

Definitions; Scrutinized Companies; Identification by Fiduciaries; Assembling Scrutinized Companies List; Update by Fiduciary; Procedure; Report; Effectiveness of Section; Conditions; Liability of Fiduciary; Scrutinized Company Affirmatively Excluded From Federal Sanctions; Effect; Severability.

Section
38.1133e

Prohibited Conduct by Investment Fiduciary, Service Provider, or Covered Associate of Service Provider; Exceptions; Definitions; Official of Governmental Entity.

Section
38.1133f

Breach of Public Trust by Investment Fiduciary or Service Provider; "Service Provider" Defined.

Section
38.1133g

Investment Committee; Establishment by Large Sponsored System; Duties; Recommendation; Definitions.

Section
38.1134

Investment in Stock or Global Security.

Section
38.1135

Investment in Investment Companies.

Section
38.1136

Investment in Annuity Investment Contracts or Participations in Separate Accounts of Life Insurance Company; Investment in General Account of Life Insurer; Requirements.

Section
38.1137

Other Authorized Investments; Prohibited Investments.

Section
38.1138

Investment in Real Estate or Mortgages on Certain Leased Real Property.

Section
38.1139

Investment in Real Estate Investment Trust or Real or Personal Property.

Section
38.1139a

State Treasurer as Investment Fiduciary; Investments in Private Equity; Limitation; Investment Fiduciary Not State Treasurer; Limitation.

Section
38.1139b

Deduction From Employee Compensation by Public Employer; Automatic Enrollment of Employee; Notice; Investment Alternatives; Liability; Definitions.

Section
38.1140

Investment in Secured Loans; Real Property Not Considered Encumbered; Investment in Part of Obligation or Participation Interest in Loan or Group of Loans; Investment in Real Estate Loan; Investment in Loan or Loans or Certificate of Participation Secured by Loan or Loans Made on Single Family Residential Property; Investment in Certificates Representing Interest in Mortgages or Group of Mortgages; Limitations and Restrictions; Investment in Second Mortgage; Investment With Variable Interest Rate.

Section
38.1140a

Investment in Debt, Warrant, or Equity Interest in Small Business, Small Business Investment Company, or Venture Capital Firm; Creation of Small Business Investment Companies or Venture Capital Firms to Invest in Small Businesses; Limitation.

Section
38.1140b

Deposits by Investment Fiduciary.

Section
38.1140c

Financial Institution, Trust Company, or Management Company Retained as Investment Fiduciary; Investment of System Assets in Collective Investment Fund, Common Trust Fund, or Pooled Fund Established and Maintained by Financial Institution or Management Company; “Financial Institution” Defined.

Section
38.1140d

Investments Not Qualified Under Act.

Section
38.1140e

Loan of Securities by Investment Fiduciary.

Section
38.1140f

Transferring and Holding Securities.

Section
38.1140g

Investment in Securities Exempt From Taxes.

Section
38.1140h

Applicable Law; Retention of Financial Records; "Financial Records" Defined; Disclosure of Certain Information; Actuarial Valuation; Supplemental Actuarial Analysis; "Proposed Pension Benefit Change" Defined; Availability and Publication of Summary Annual Report.

Section
38.1140i

Repealed. 2000, Act 307, Imd. Eff. Oct. 16, 2000.

Section
38.1140j

Investment in Derivatives.

Section
38.1140k

Investment in Global Securities; Prohibited Conduct.

Section
38.1140l

Financial or Proprietary Information.

Section
38.1140m

Employer Contribution.

Section
38.1141

Removal of Member of Board or Body.