Mich. Comp. Laws § 15.2
This is the official text of Mich. Comp. Laws § 15.2, part of Michigan’s Comp. Laws — part of the compiled statutory law of Michigan, published by the state as "Comp. Laws." Browse the sections below, each linked to its official government source.
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Bonds; conditions, coverage; departmental problems.
Official statutory text
Sec. 2.
The director of the department of administration or his designated agent is authorized to determine, after consultation with the director of the department of commerce, the condition of each such bond and whether a single state bond for all state officers and employees or departmental bonds, shall best serve the state. In determining adequate coverage, the department of administration is authorized to obtain bond coverage with provisions relative to departmental problems of a unique nature, including loss deductible or coinsurance provisions.
History: 1969, Act 10, Imd. Eff. May 7, 1969
The director of the department of administration or his designated agent is authorized to determine, after consultation with the director of the department of commerce, the condition of each such bond and whether a single state bond for all state officers and employees or departmental bonds, shall best serve the state. In determining adequate coverage, the department of administration is authorized to obtain bond coverage with provisions relative to departmental problems of a unique nature, including loss deductible or coinsurance provisions.
History: 1969, Act 10, Imd. Eff. May 7, 1969
Status: in_force · Read it on the official government site
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