DEPOSITORIES FOR PUBLIC MONEYS (EXCERPT)
Act 99 of 1909

129.40 “Financial institution” defined.

Sec. 10.

As used in this act, “financial institution” means a state or nationally chartered bank or a state or federally chartered savings and loan association, savings bank, or credit union whose deposits are insured by an agency of the United States government and which maintains a principal office or branch office located in this state under the laws of this state or the United States.


History: Add. 1911, Act 212, Eff. Aug. 1, 1911 ;-- CL 1915, 2385 ;-- CL 1929, 1202 ;-- CL 1948, 129.40 ;-- Am. 1997, Act 43, Imd. Eff. June 30, 1997