Section 129.115 - Maintaining separate account for each participant; monthly statement of transactions; report.
SURPLUS FUNDS INVESTMENT POOL ACT (EXCERPT)
Act 367 of 1982
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