Sec. 7. (1) The settlement administration fund is created within the state treasury. (2) The state treasurer may receive money or other assets from any source for deposit into the fund. The state treasurer shall direct the investment of the fund. The state treasurer shall credit to the fund interest and earnings from fund investments. (3) Money in the fund at the close of the fiscal year shall remain in the fund and shall not lapse to the general fund. (4) The authority shall expend money from the fund only as provided in this act.
Mich. Comp. Laws § 141.1607
Settlement administration fund; creation; deposit of money or other assets; investment; interest and earnings; money remaining at close of fiscal year; expenditure
2014, Act 187, Imd
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.