Mich. Comp. Laws § 38.1051
This is the official text of Mich. Comp. Laws § 38.1051, 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.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Investment of retirement system funds; ownership by system; registration; recording; nonapplicability to Tier 2.
Official statutory text
Sec. 51.
The retirement board shall clearly mark all investments to indicate ownership by the system and, to the extent possible, shall register all investments in the name of the system. The retirement board shall record all investments pursuant to generally accepted accounting principles promulgated by the governmental accounting standards board, upon adoption of those principles by the retirement board. This section does not apply to Tier 2.
History: 1957, Act 261, Eff. Sept. 27, 1957; Am. 1960, Act 113, Eff. Aug. 17, 1960; Am. 1994, Act 359, Eff. Dec. 31, 1994; Am. 1996, Act 486, Eff. Mar. 31, 1997
The retirement board shall clearly mark all investments to indicate ownership by the system and, to the extent possible, shall register all investments in the name of the system. The retirement board shall record all investments pursuant to generally accepted accounting principles promulgated by the governmental accounting standards board, upon adoption of those principles by the retirement board. This section does not apply to Tier 2.
History: 1957, Act 261, Eff. Sept. 27, 1957; Am. 1960, Act 113, Eff. Aug. 17, 1960; Am. 1994, Act 359, Eff. Dec. 31, 1994; Am. 1996, Act 486, Eff. Mar. 31, 1997
Status: in_force · Read it on the official government site
Need a lawyer in Michigan?
Find a Michigan lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.