Section 38.1140f - Transferring and holding securities.
PUBLIC EMPLOYEE RETIREMENT SYSTEM INVESTMENT ACT (EXCERPT)
Act 314 of 1965
38.1140f Transferring and holding securities.
Sec. 20f.
An investment fiduciary may use 1 or more nominees to facilitate transfer of a system's securities and may hold the securities in safekeeping with the federal reserve system, a clearing corporation, or a custodian bank which is a member of the federal reserve system.
History: Add. 1982, Act 55, Imd. Eff. Apr. 6, 1982