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Home » US Law » 2022 Michigan Compiled Laws » Chapter 129 - Public Funds » Act 367 of 1982 - Surplus Funds Investment Pool Act (129.111 - 129.118) » Section 129.115 – Maintaining Separate Account for Each Participant; Monthly Statement of Transactions; Report.
129.115 Maintaining separate account for each participant; monthly statement of transactions; report.

Sec. 5.

The depository shall maintain for each participant a separate account designated by the participant’s name and number. Each account shall show the deposits, earnings, and withdrawals of, and any fees paid by, the participant. Each participant shall receive a monthly statement of transactions and, upon request, shall be furnished a report showing the investment holdings of the investment pool as of the end of the previous month.

History: 1982, Act 367, Eff. Mar. 30, 1983