Michigan Statutes
§ 129.42 — Security for deposit prohibited.
Michigan § 129.42
JurisdictionMichigan
Ch. 129PUBLIC FUNDS
Act 321 of 1909DEPOSIT AND SAFEGUARDING OF PUBLIC MONEYS OF VILLAGE (129.41-129.45)
This text of Michigan § 129.42 (Security for deposit prohibited.) 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 § 129.42 (2026).
Text
DEPOSIT AND SAFEGUARDING OF PUBLIC MONEYS OF VILLAGE (EXCERPT) Act 321 of 1909 129.42 Security for deposit prohibited. Sec.
2.Security in the form of collateral, surety bonds, or another form shall not be taken for the deposit of the public funds.
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Legislative History
Add. 1979, Act 77, Imd. Eff. Aug. 1, 1979
Nearby Sections
15
§ 129.11
Public money; definition.§ 129.111
Short title.§ 129.112
Definitions.§ 129.115
Maintaining separate account for each participant; monthly statement of transactions; report.§ 129.116
Powers and duties of depository.§ 129.121
Short title; bond cremation act.§ 129.122
Bond cremation act; definitions.Cite This Page — Counsel Stack
Bluebook (online)
Michigan § 129.42, Counsel Stack Legal Research, https://law.counselstack.com/statute/mi/129/129.42.