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 8/15/2025 10:33 AM
Michigan Compiled Laws Complete Through PA 5 of 2025
Courtesy of legislature.mi.gov