Michigan Laws 129.146 – Standard of judgment and care
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Terms Used In Michigan Laws 129.146
- 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
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
The treasurer of a participating county shall invest the money in the investment pool with the degree of judgment and care, under circumstances then prevailing, that a person of prudence, discretion, and intelligence exercises in the management of his or her own affairs, not for speculation, but for investment, considering the probable safety of his or her capital as well as the probable income to be derived from an investment of his or her capital.