Michigan Laws 129.148 – Safekeeping depositories; security

(1) The treasurer of a participating county may use safekeeping depositories for the holding of securities.

(2) Security in the form of collateral, surety bond, or another form may be taken for the deposits or investments of an investment pool.

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Investment pool: means a local government investment pool authorized in section 3. See Michigan Laws 129.142
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. See Michigan Laws 129.142