MCL 453.406 Dairymen's Association; Powers; Funds, Investment and Use

• Library: Michigan Statutes
• Edition: 2023
• Currency: Current through Public Act 321 of the 2023 Legislative Session
• Year: 2023
• Citation: MCL 453.406

Said corporation may sue or be sued, take by gift, purchase or devise, property, exclusive of that actually used and necessary for the transaction of its business, to an amount not to exceed 10,000 dollars, and it shall be lawful to invest the same upon mortgage, or in or by loan on bonds, of any city, county, state, or in government securities, or deposited at some bank, or with any broker in this state, upon such bank or broker giving sufficient security for the repayment thereof: Provided, That any such proposition may in its articles of agreement specify the kind of securities in which its funds shall be invested, and that no part of its funds shall be invested in any securities other than those named in ...