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Form a Business

Deposit of district funds; limitation.

MCL 380.1222
in effect
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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. 1976, Act 451, Imd. Eff. Jan. 13, 1977 [PopularName] Act 451
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-380-1222Fetched: 10/20/2026

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