Section 380.1222 - Deposit of district funds; limitation.
THE REVISED SCHOOL CODE (EXCERPT)
Act 451 of 1976
380.1222 Deposit of district funds; limitation.
Sec. 1222.
A bank whose combined capital and surplus exceeds $50,000.00 may receive deposits of funds in an amount not more than double the combined capital and unimpaired surplus of the bank.
History: 1976, Act 451, Imd. Eff. Jan. 13, 1977
Popular Name: Act 451