LOANS TO CITIES OR VILLAGES OWNING PUBLIC UTILITIES (EXCERPT)
Act 182 of 1971

460.463 Forfeiture of security to pledgee or assignee.

Sec. 3.

A pledge or assignment may allow forfeiture of the security to the pledgee or assignee for default or noncompliance with the terms of the loan.

History: 1971, Act 182, Imd. Eff. Dec. 20, 1971

Rendered 11/12/2025 4:17 AM
Michigan Compiled Laws Complete Through PA 31 of 2025
Courtesy of legislature.mi.gov