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§ 380.1222 — Michigan Law | CourtGPT
  1. Home/
  2. Laws/
  3. Michigan/
  4. Chapter 380 - the Revised School Codeact 451 of 1976 - the Revised School Code (380.1 - 380.1853)/
  5. Statute Act 451 of 1976/
  6. Article 2 - (380.805...380.1644)451-1976-2-8 -/
  7. Division 451 1976 2 16/
  8. § 380.1222
Michigan Legal Code

§ 380.1222

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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