reglab/housing_qa huggingface dataset:
MI Comp L § 129.101 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 32 of 1956 - Facsimile Signatures (129.101 - 129.101)|Section 129.101 - Deposited Public Funds; Facsimile Signatures on Checks or Orders for Payment of Money.

129.101 Deposited public funds; facsimile signatures on checks or orders for payment of money. Sec. 1.  Moneys on deposit in any duly designated depository to the credit of any account of the state of Michigan, when so authorized by resolution of the state administrative board, of any county, when so authorized by resolution of its board of supervisors or board of county auditors in those counties in which there is a board of county auditors, of any township, when so authorized by resolution of its township board, of any school district, when so authorized by resolution of its district board or board of education, of any city or village, when so authorized by resolution of its legislative body, or of any other municipal or public corporation within this state, when so authorized by resolution of its governing board, may be drawn upon by checks, drafts or other orders for the payment of money bearing, or purporting to bear, the facsimile signature or signatures of the person or persons required to sign the same; and when the drawing upon any such moneys in such manner is so authorized, such depository shall be entitled to honor and to charge the appropriate account for such checks, drafts and other orders regardless of by whom or by what means any such actual or purported facsimile signature may have been affixed thereto if, in the exercise of ordinary care, such signature would be honored by a bank as being the facsimile signature duly certified to the depository. History: 1956, Act 32, Imd. Eff. Mar. 28, 1956 ;-- Am. 1958, Act 20, Eff. Sept. 13, 1958
MI Comp L § 129.111 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 367 of 1982 - Surplus Funds Investment Pool Act (129.111 - 129.118)|Section 129.111 - Short Title.

129.111 Short title. Sec. 1.  This act shall be known and may be cited as the “surplus funds investment pool act”. History: 1982, Act 367, Eff. Mar. 30, 1983
MI Comp L § 129.112 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 367 of 1982 - Surplus Funds Investment Pool Act (129.111 - 129.118)|Section 129.112 - Definitions.

129.112 Definitions. Sec. 2.  (1) As used in this act:  (a) “Depository” means that department of the financial institution which is responsible for managing, investing, and reinvesting funds placed in an investment pool.  (b) “Financial institution” means a state or nationally chartered bank or a state or federally chartered savings and loan association, savings bank, or credit union whose deposits are insured by an agency of the United States government and which maintains a principal office or branch office located in this state under the laws of this state or the United States and which is eligible to be a depository of surplus funds belonging to the state under section 6 of 1855 PA 105, MCL 21.146.  (c) “Local unit” means a county, city, village, township, school district, authority, or any other political subdivision organized under the laws of this state.  (d) “Participant” means a local unit which has entered into a contract with a financial institution and has placed funds in an investment pool managed by that financial institution.  (e) “Surplus funds” means money which belongs to or is under the control of the local unit and is available for investment, not being required by law or agreement with bondholders to be segregated and invested in a specified manner.  (2) Assets acceptable for pledging to secure deposits of township funds are limited to any of the following:  (a) Assets considered acceptable to the state treasurer under section 3 of 1855 PA 105, MCL 21.143, to secure deposits of state surplus funds.  (b) Any of the following:  (i) Securities issued by the federal home loan mortgage corporation.  (ii) Securities issued by the federal national mortgage association.  (iii) Securities issued by the government national mortgage association.  (c) Securities considered acceptable to the township and the financial institution. History: 1982, Act 367, Eff. Mar. 30, 1983 ;-- Am. 1997, Act 48, Imd. Eff. June 30, 1997
MI Comp L § 129.113 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 367 of 1982 - Surplus Funds Investment Pool Act (129.111 - 129.118)|Section 129.113 - Placing Surplus Funds in Investment Pool; Contract With Financial Institution.

129.113 Placing surplus funds in investment pool; contract with financial institution. Sec. 3.  The governing body of a local unit may enter into a contract with a financial institution to place surplus funds in an investment pool. History: 1982, Act 367, Eff. Mar. 30, 1983
MI Comp L § 129.114 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 367 of 1982 - Surplus Funds Investment Pool Act (129.111 - 129.118)|Section 129.114 - Contract Between Financial Institution and Local Unit; Required Provisions.

129.114 Contract between financial institution and local unit; required provisions. Sec. 4.  Before surplus funds are placed in an investment pool, the financial institution and the local unit shall enter into a written contract which shall include, at a minimum, the following provisions:  (a) The minimum amount of money which may be deposited in the investment pool.  (b) The procedure for the deposit and withdrawal of the money.  (c) The amount of the fee for managing the investment pool, if a management fee is to be charged of the participant by the financial institution.  (d) The terms for distribution of earnings in excess of any management fee, and for the allocation of losses, to participants, in a manner which equitably reflects the differing amounts of their respective investments and the differing periods of time for which such amounts were in custody of the investment pool. History: 1982, Act 367, Eff. Mar. 30, 1983
MI Comp L § 129.115 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 367 of 1982 - Surplus Funds Investment Pool Act (129.111 - 129.118)|Section 129.115 - Maintaining Separate Account for Each Participant; Monthly Statement of Transactions; Report.

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
MI Comp L § 129.116 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 367 of 1982 - Surplus Funds Investment Pool Act (129.111 - 129.118)|Section 129.116 - Powers and Duties of Depository.

129.116 Powers and duties of depository. Sec. 6.  (1) The depository shall manage, invest, and reinvest the money in an investment pool on behalf of each participant. Subject to the scope of investments allowed by subsection (2), a depository may combine money in an investment pool with other funds the depository may have available for investment.  (2) The depository may invest and reinvest the money in the investment pool only in the manner permitted in section 1 of Act No. 20 of the Public Acts of 1943, as amended, being section 129.91 of the Michigan Compiled Laws.  (3) The depository shall invest the money in the investment pool with the degree of judgment and care which a person of prudence, discretion, and intelligence exercises in the management of his or her own affairs, not for speculation, but for investment, considering the probable safety of his or her capital as well as the probable income to be derived from an investment of his or her capital. History: 1982, Act 367, Eff. Mar. 30, 1983
MI Comp L § 129.117 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 367 of 1982 - Surplus Funds Investment Pool Act (129.111 - 129.118)|Section 129.117 - Default in Payment of Principal, Interest, or Other Income; Remedies of Depository.

129.117 Default in payment of principal, interest, or other income; remedies of depository. Sec. 7.  If a default occurs in the payment of principal, interest, or other income of an investment pool, the depository shall pursue all remedies available to it at law or in equity. History: 1982, Act 367, Eff. Mar. 30, 1983
MI Comp L § 129.118 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 367 of 1982 - Surplus Funds Investment Pool Act (129.111 - 129.118)|Section 129.118 - Act as Additional Authority for Investment of Surplus Funds.

129.118 Act as additional authority for investment of surplus funds. Sec. 8.  This act shall be considered to provide authority for the investment of surplus funds of a local unit in addition to the authority granted under Act No. 20 of the Public Acts of 1943, as amended, being sections 129.91 to 129.93 of the Michigan Compiled Laws. History: 1982, Act 367, Eff. Mar. 30, 1983
MI Comp L § 129.121 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 56 of 1962 - Bond Cremation Act (129.121 - 129.125)|Section 129.121 - Short Title; Bond Cremation Act.

129.121 Short title; bond cremation act. Sec. 1.  This act shall be known and may be cited as the “bond cremation act”. History: 1962, Act 56, Eff. Mar. 28, 1963
MI Comp L § 129.122 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 56 of 1962 - Bond Cremation Act (129.121 - 129.125)|Section 129.122 - Bond Cremation Act; Definitions.

129.122 Bond cremation act; definitions. Sec. 2.  As used in this act:  (a) “Public corporation” means any county, city, village, township, charter township, school district, community college district, port district, metropolitan district, drainage district, the state or any officer, agency, commission or department thereof, or any other public or governmental authority or agency within the state with the power to issue obligations.  (b) “Obligations” means any evidence of indebtedness, such as bonds, bills, notes, orders, certificates of indebtedness or other like instruments, issued by a public corporation.  (c) “Interest coupon” means the coupon pertaining to any obligation evidencing a right to the payment of a certain sum as interest on an obligation.  (d) “Governing body” means the board of supervisors of a county, the township board of a township, the council, common council, or commission of a city, the council, commission or board of trustees of a village, the board of education or district board of a school district, the county drain commissioner or drainage board of a drainage district, the legislative body of a metropolitan district, the port commission of a port district and, in the case of any other public corporation, the official or official body to whom is designated general governing or legislative powers by law.  (e) “Paying agent” means any one of the banks or trust companies or other financial institutions where the obligations or interest coupons are made payable. History: 1962, Act 56, Eff. Mar. 28, 1963
MI Comp L § 129.123 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 56 of 1962 - Bond Cremation Act (129.121 - 129.125)|Section 129.123 - Cremation or Disintegration of Public Obligations or Interest Coupons.

129.123 Cremation or disintegration of public obligations or interest coupons. Sec. 3.  Subject to the provisions of this act, the governing body of any public corporation may authorize the cremation or disintegration of obligations or interest coupons. As an alternative, subject to the provisions of this act, any public corporation may enter into an agreement with a paying agent for the cremation or disintegration of its obligations and interest coupons, which agreement shall be approved and its execution authorized by the governing body. History: 1962, Act 56, Eff. Mar. 28, 1963 ;-- Am. 1963, Act 130, Eff. Sept. 6, 1963 ;-- Am. 1972, Act 146, Imd. Eff. May 26, 1972
MI Comp L § 129.124 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 56 of 1962 - Bond Cremation Act (129.121 - 129.125)|Section 129.124 - Public Bonds and Interest Coupons; Certificate of Cremation, Contents, Filing.

129.124 Public bonds and interest coupons; certificate of cremation, contents, filing. Sec. 4.  Where obligations and interest coupons are cremated by a public corporation, it shall be done in the presence of the official of the public corporation having custody of the financial records of the public corporation, or a representative designated by such official, and in the presence of 2 additional persons designated by the governing body of the public corporation. Where the obligations and interest coupons are cremated by a paying agent, it shall be done in the presence of at least 2 authorized officers or employees of the paying agent. Within 24 hours after the cremation of any obligations or interest coupons, a certificate of cremation shall be prepared and executed by an officer of the paying agent and the persons in whose presence the obligations or interest coupons were cremated. The certificate shall show the name of the public corporation, the designation or title of the obligations cremated, which in the case of interest coupons shall include the title or designation of the obligations to which they pertain, the aggregate principal amount of obligations cremated, the maturity date of the obligations and interest coupons cremated, the date of the obligations cremated, the denomination of each of the obligations cremated, the number of each of the obligations cremated, the name of the printer of the obligations or interest coupons cremated, and where interest coupons are cremated, the quantity of coupons cremated for each coupon maturity date and the face value of each of the coupons cremated. A copy of the cremation certificate shall be filed within 30 days of its execution with the officer of the public corporation having custody of the financial records of the public corporation and the municipal finance commission or such other agency or body as may hereafter have power over the issuance of obligations by public corporations. History: 1962, Act 56, Eff. Mar. 28, 1963
MI Comp L § 129.125 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 56 of 1962 - Bond Cremation Act (129.121 - 129.125)|Section 129.125 - Public Bonds and Interest Coupons; Obligations Not Considered Public Records.

129.125 Public bonds and interest coupons; obligations not considered public records. Sec. 5.  The powers conferred by this act shall be construed as constituting complete and independent power and authority to do the things herein authorized, the provisions of any other statute or charter to the contrary notwithstanding. Obligations and interest coupons of public corporations for the purposes of this act shall not be considered to be public records within the meaning of any other statute or charter. History: 1962, Act 56, Eff. Mar. 28, 1963
MI Comp L § 129.131 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 354 of 1972 - Replacing or Paying Obligations of Public Corporation (129.131 - 129.135)|Section 129.131 - Definitions.

129.131 Definitions. Sec. 1.  As used in this act:  (a) “Paying agent” means either of the following:  (i) For an obligation that is not registered as to payment of principal by or on behalf of the public corporation that issued the obligation, any bank or trust company designated by the public corporation to make payment of principal of or interest on the obligation.  (ii) For an obligation that is registered as to payment of principal by or on behalf of the public corporation that issued the obligation, any bank or trust company that is authorized by the public corporation to authenticate the obligation on behalf of the public corporation.  (b) “Public corporation” means a body corporate organized pursuant to the laws of this state to carry out a public governmental or proprietary function, including, but not limited to, this state, an agency of this state, or a school district, intermediate school district, city, village, township, county, district, commission, authority, university, college, or any combination of these, which is a corporate entity.  (c) “Obligation” means evidence of indebtedness including, but not limited to, a bond, refunding bond, revenue bond, note, certificate of indebtedness and other like instrument issued by a public corporation, and any coupon representing interest on the obligation.  (d) “Governing body” means the legislative body or the official or official body that exercises the general governing powers of a public corporation, or in the case of this state or an agency of this state, the official body designated by law to issue the obligation to be replaced.  (e) “Replacement obligation” means an obligation and any coupon representing interest in connection with the obligation issued under this act.  (f) “Obligor” means either of the following:  (i) A person or entity that has borrowed the proceeds of an obligation from a public corporation and is contractually obligated to make loan repayments sufficient to pay principal of and interest on the obligation.  (ii) A person or entity that has leased, rented, or purchased on an installment basis from a public corporation a facility financed with proceeds of an obligation and that is making payments for the use or purchase of the facility in amounts sufficient to pay principal of and interest on the obligation. History: 1972, Act 354, Imd. Eff. Jan. 9, 1973 ;-- Am. 1974, Act 142, Imd. Eff. June 5, 1974 ;-- Am. 1996, Act 109, Imd. Eff. Mar. 5, 1996
MI Comp L § 129.133 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 354 of 1972 - Replacing or Paying Obligations of Public Corporation (129.131 - 129.135)|Section 129.133 - Replacement Obligations; Form; Security; Execution; Formal Requirements; Indorsement.

129.133 Replacement obligations; form; security; execution; formal requirements; indorsement. Sec. 3.  A replacement obligation shall be of the same form and tenor and be secured in the same manner as the obligation originally issued. The replacement obligation shall be executed in the same manner and subject to the same formal requirements as those provided by law for the obligation originally issued. Obligations that are not registered as to payment of either principal or interest shall be indorsed with the word “replacement”. History: 1972, Act 354, Imd. Eff. Jan. 9, 1973 ;-- Am. 1974, Act 142, Imd. Eff. June 5, 1974 ;-- Am. 1996, Act 109, Imd. Eff. Mar. 5, 1996
MI Comp L § 129.134 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 354 of 1972 - Replacing or Paying Obligations of Public Corporation (129.131 - 129.135)|Section 129.134 - Replacement of Unmatured Interest Coupons; Payment of Matured Interest Coupons.

129.134 Replacement of unmatured interest coupons; payment of matured interest coupons. Sec. 4.  The governing body may provide for replacement of unmatured interest coupons lost, destroyed, or wrongfully taken. Matured interest coupons shall not be replaced, and replacement coupons shall not be issued separately from a replacement obligation evidencing principal. The governing body may authorize a paying agent to make payment of matured interest coupons lost, destroyed, or wrongfully taken without presentation upon receipt of documentation and indemnification satisfactory to the paying agent and payment of any fees, costs, and expenses of the paying agent. History: 1972, Act 354, Imd. Eff. Jan. 9, 1973 ;-- Am. 1974, Act 142, Imd. Eff. June 5, 1974 ;-- Am. 1996, Act 109, Imd. Eff. Mar. 5, 1996
MI Comp L § 129.135 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 354 of 1972 - Replacing or Paying Obligations of Public Corporation (129.131 - 129.135)|Section 129.135 - Repealed. 2000, Act 117, Imd. Eff. May 26, 2000.

129.135 Repealed. 2000, Act 117, Imd. Eff. May 26, 2000. Compiler's Notes: The repealed section pertained to the authority of the department to promulgate rules to implement the act.
MI Comp L § 129.141 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 121 of 1985 - Local Government Investment Pool Act (129.141 - 129.150)|Section 129.141 - Short Title.

129.141 Short title. Sec. 1.  This act shall be known and may be cited as the “local government investment pool act”. History: 1985, Act 121, Imd. Eff. July 31, 1985
MI Comp L § 129.142 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 121 of 1985 - Local Government Investment Pool Act (129.141 - 129.150)|Section 129.142 - Definitions.

129.142 Definitions. Sec. 2.  As used in this act:  (a) “Governing body” means the board, council, or other official body that has general governing powers over a local unit.  (b) “Investment pool” means a local government investment pool authorized in section 3.  (c) “Local unit” means a county, city, village, township, authority created pursuant to state law or municipal charter, special assessment district, municipal board or commission established under state law or municipal charter, or intergovernmental board, commission, or council established pursuant to the urban cooperation act of 1967, Act No. 7 of the Public Acts of the Extra Session of 1967, being sections 124.501 to 124.512 of the Michigan Compiled Laws, or Act No. 8 of the Public Acts of the Extra Session of 1967, being sections 124.531 to 124.536 of the Michigan Compiled Laws.  (d) “Participant” means a local unit participating in the investment pool.  (e) “Participating county” means a county that has been authorized by the county governing body to enter into a contract with another local unit pursuant to section 4.  (f) “Safekeeping depository” means a federal reserve bank or other institution which is qualified to hold securities for safekeeping. History: 1985, Act 121, Imd. Eff. July 31, 1985
MI Comp L § 129.143 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 121 of 1985 - Local Government Investment Pool Act (129.141 - 129.150)|Section 129.143 - Contracts Between Participating County and Local Units; Local Government Investment Pool; Management, Investment, and Reinvestment.

129.143 Contracts between participating county and local units; local government investment pool; management, investment, and reinvestment. Sec. 3.  (1) A participating county may contract to accept money from local units within that county for management, investment, and reinvestment by the county treasurer. The treasurer of the participating county may pool that money with money deposited by other local units under this act in a local government investment pool for purposes of management, investment, and reinvestment.  (2) A local unit may enter into a contract with a participating county to place surplus funds in an investment pool.  (3) The treasurer of a participating county shall manage, invest, and reinvest the money in the investment pool on behalf of each local unit that deposits money in the investment pool. The treasurer shall manage, invest, or reinvest the money in the investment pool in the same manner as surplus county funds under Act No. 20 of the Public Acts of 1943, being sections 129.91 to 129.93 of the Michigan Compiled Laws. History: 1985, Act 121, Imd. Eff. July 31, 1985
MI Comp L § 129.144 (2021)
2021 Michigan Compiled Laws|Chapter 129 - Public Funds|Act 121 of 1985 - Local Government Investment Pool Act (129.141 - 129.150)|Section 129.144 - Authorization by Resolution.

129.144 Authorization by resolution. Sec. 4.  (1) A county treasurer shall not enter into a contract with a local unit for deposit of money in an investment pool until authorized to establish an investment pool by a resolution of the county board of commissioners of that participating county.  (2) The treasurer or other chief fiscal officer of a local unit shall not enter into a contract for deposit of money in an investment pool until authorized by a resolution of the governing body of that local unit. History: 1985, Act 121, Imd. Eff. July 31, 1985