Michigan § 129.149 Default; powers of treasurer.

Michigan Statutes

§ 129.149 — Default; powers of treasurer.

Michigan § 129.149

Ch. 129PUBLIC FUNDS

Act 121 of 1985LOCAL GOVERNMENT INVESTMENT POOL ACT (129.141-129.150)

This text of Michigan § 129.149 (Default; powers of treasurer.) is published on Counsel Stack Legal Research, covering Michigan primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mich. Comp. Laws § 129.149 (2026).

Text

LOCAL GOVERNMENT INVESTMENT POOL ACT (EXCERPT) Act 121 of 1985 129.149 Default; powers of treasurer. Sec. 9. If a default occurs in the payment of principal, interest, or other income of an investment of the investment pool, the treasurer of the participating county may do 1 or more of the following:

(a)Institute a proceeding to collect the matured principal, interest, or other income.

(b)Accept a compromise, adjustment, or disposition of the matured principal, interest, or other income as the county treasurer considers advisable for the purpose of protecting the money invested in the investment pool.

(c)Accept a compromise or adjustment as to future payments of principal, interest, or other income as the county treasurer considers advisable for the purpose of protecting money invested

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LOCAL GOVERNMENT INVESTMENT POOL ACT (EXCERPT) Act 121 of 1985 129.149 Default; powers of treasurer. Sec. 9. If a default occurs in the payment of principal, interest, or other income of an investment of the investment pool, the treasurer of the participating county may do 1 or more of the following: (a) Institute a proceeding to collect the matured principal, interest, or other income. (b) Accept a compromise, adjustment, or disposition of the matured principal, interest, or other income as the county treasurer considers advisable for the purpose of protecting the money invested in the investment pool. (c) Accept a compromise or adjustment as to future payments of principal, interest, or other income as the county treasurer considers advisable for the purpose of protecting money invested in the investment pool.