Sec. 12e. (1) "Small business" means a corporation, partnership, sole proprietorship, or other entity which does not meet the specific requirements of investments permitted under this act. (2) "Small business investment company" means an incorporated body or a limited partnership under section 301 of title III of the small business investment act of 1958, Public Law 85-699, 15 U.S.C. 681. (3) "Soft dollar" means brokerage commissions that are used by the system to purchase goods or services. (4) "Stock" means capital stock, common stock, preferred stock, American depository receipts, or any other evidence of residual ownership of a corporation. (5) "System" means a public employee retirement system created and established by this state or any political subdivision of this state.
Mich. Comp. Laws § 38.1132e
Definitions; S
Applied in 3 court decisions — leading case 252 Mich. App. 59 - Detroit News, Inc. v. Policemen and Firemen Retirement System of City of Detroit (2002)
Most recently applied in Wayne County Employees Retirement System v. Wayne County (May 2013)
Add. 1996, Act 485, Imd
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.