Michigan § 390.1484 Obligation upon state, agency, or instrumentality of state.

Michigan Statutes

§ 390.1484 — Obligation upon state, agency, or instrumentality of state.

Michigan § 390.1484

Ch. 390UNIVERSITIES AND COLLEGES

Act 161 of 2000MICHIGAN EDUCATION SAVINGS PROGRAM ACT (390.1471-390.1486)

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Bluebook

Mich. Comp. Laws § 390.1484 (2026).

Text

MICHIGAN EDUCATION SAVINGS PROGRAM ACT (EXCERPT) Act 161 of 2000 390.1484 Obligation upon state, agency, or instrumentality of state. Sec. 14.

(1)This act does not create and shall not be construed to create any obligation upon this state or any agency or instrumentality of this state to guarantee for the benefit of an account owner or designated beneficiary any of the following:

(a)The rate of interest or other return on an account.

(b)The payment of interest or other return on an account.

(2)The contracts, applications, deposit slips, and other similar documents used in connection with a contribution to an account shall clearly indicate that the account is not insured by this state and that the money deposited into and investment return earned on an account are not guaranteed by this

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MICHIGAN EDUCATION SAVINGS PROGRAM ACT (EXCERPT) Act 161 of 2000 390.1484 Obligation upon state, agency, or instrumentality of state. Sec. 14. (1) This act does not create and shall not be construed to create any obligation upon this state or any agency or instrumentality of this state to guarantee for the benefit of an account owner or designated beneficiary any of the following: (a) The rate of interest or other return on an account. (b) The payment of interest or other return on an account. (2) The contracts, applications, deposit slips, and other similar documents used in connection with a contribution to an account shall clearly indicate that the account is not insured by this state and that the money deposited into and investment return earned on an account are not guaranteed by this state.