Michigan Laws 124.302 – ACH arrangement; scope
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(1) The treasurer or the ETO of a local unit may enter into an ACH arrangement as provided by this act.
(2) An ACH arrangement under this act is not subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821, or to provisions of law or charter concerning the issuance of debt by a local unit.
Terms Used In Michigan Laws 124.302
- ACH: means a national and governmental organization that has authority to process electronic payments, including, but not limited to, the national automated clearing house association and the federal reserve system. See Michigan Laws 124.301
- ACH arrangement: means the agreement between the originator of the ACH transaction and the receiver of the ACH transaction. See Michigan Laws 124.301
- ETO: means the person designated under this act by charter or by the governing body in a local unit other than a township or county. See Michigan Laws 124.301
- Local unit: means any of the following:
(i) A village. See Michigan Laws 124.301Treasurer: means the elected treasurer in a township or county. See Michigan Laws 124.301