Surplus Funds Investment Pool Act (Excerpt) Act 367 Of 1982


Published: 2015

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SURPLUS FUNDS INVESTMENT POOL ACT (EXCERPT)
Act 367 of 1982

129.115 Maintaining separate account for each participant; monthly statement of transactions; report.

Sec. 5.

The depository shall maintain for each participant a separate account designated by the participant's name and number. Each account shall show the deposits, earnings, and withdrawals of, and any fees paid by, the participant. Each participant shall receive a monthly statement of transactions and, upon request, shall be furnished a report showing the investment holdings of the investment pool as of the end of the previous month.


History: 1982, Act 367, Eff. Mar. 30, 1983

© 2015 Legislative Council, State of Michigan