Section 129.42 - Security for deposit prohibited.
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.
History: Add. 1979, Act 77, Imd. Eff. Aug. 1, 1979