Michigan Laws 285.275 – Notes and bonds of authority as securities; investment
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Terms Used In Michigan Laws 285.275
- Authority: means the Michigan family farm development authority established in section 3. See Michigan Laws 285.252
- Bonds: means bonds issued by the authority pursuant to this act. See Michigan Laws 285.252
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
The notes and bonds of the authority are securities in which all public officers and bodies of the state and all local units of government, all insurance companies and associations, and other persons carrying on an insurance business, all banks, trust companies, savings banks and savings associations, savings and loan associations, investment companies, all administrators, guardians, executors, trustees, and other fiduciaries, and all other persons whatsoever who are now or may hereafter be authorized to invest in bonds or other obligations of the state, may properly and legally invest funds, including capital, in their control or belonging to them.