Section 38.1140b Deposits by Investment Fiduciary.

MI Comp L § 38.1140b (2019) (N/A)

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Sec. 20b.

An investment fiduciary may make interest bearing deposits with the treasurer of the political subdivision sponsoring the system or with the state treasurer, either of whom may then manage and invest the deposits in a collective investment fund, common trust fund, or pooled fund that is established and maintained for investment of those assets by the treasurer of the political subdivision sponsoring the system or by the state treasurer in accordance with this act.

History: Add. 1982, Act 55, Imd. Eff. Apr. 6, 1982 ;-- Am. 1996, Act 485, Imd. Eff. Dec. 27, 1996 Compiler's Notes: For transfer of powers and duties of state treasurer created under public employee retirement system investment act or authorizing statutes to Michigan investment board and transfer of powers and duties of investment advisory committee created under MCL 16.191 to Michigan investment board , see E.R.O. No. 2018-5, compiled at MCL 38.1176.

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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.

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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.