Mich. Comp. Laws § 38.1135
This is the official text of Mich. Comp. Laws § 38.1135, 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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Investment in investment companies.
Official statutory text
Sec. 15.
An investment fiduciary may invest in investment companies registered under the investment company act of 1940, 15 USC 80a-1 to 80a-64. The management company of the investment company shall have been in operation for at least 5 years and shall have assets under management of more than $500,000,000.00. An investment company may be established as a limited partnership, corporation, limited liability company, trust, or other organizational entity for which the liability of an investor does not exceed the amount of the investment under the laws of the United States or the applicable laws of the state, district, territory, or foreign country under which the investment company was established. An investment in an investment company shall be considered an investment in the underlying assets for all purposes under this act.
History: Add. 1982, Act 55, Imd. Eff. Apr. 6, 1982; Am. 1996, Act 485, Imd. Eff. Dec. 27, 1996; Am. 2012, Act 347, Eff. Mar. 28, 2013
An investment fiduciary may invest in investment companies registered under the investment company act of 1940, 15 USC 80a-1 to 80a-64. The management company of the investment company shall have been in operation for at least 5 years and shall have assets under management of more than $500,000,000.00. An investment company may be established as a limited partnership, corporation, limited liability company, trust, or other organizational entity for which the liability of an investor does not exceed the amount of the investment under the laws of the United States or the applicable laws of the state, district, territory, or foreign country under which the investment company was established. An investment in an investment company shall be considered an investment in the underlying assets for all purposes under this act.
History: Add. 1982, Act 55, Imd. Eff. Apr. 6, 1982; Am. 1996, Act 485, Imd. Eff. Dec. 27, 1996; Am. 2012, Act 347, Eff. Mar. 28, 2013
Status: in_force · Read it on the official government site
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