Michigan § 141.138 - Trustee; appointment; powers and duties; pledging of trust funds.
Full text of Michigan Michigan Compiled Laws § 141.138 — Trustee; appointment; powers and duties; pledging of trust funds., with citation guidance and answers to common questions.
§ 141.138. Trustee; appointment; powers and duties; pledging of trust funds.
An ordinance authorizing the issuance of bonds under this act may provide for the appointment of a trustee with the powers and duties prescribed in the ordinance in respect to the bonds and the payment and security of the bonds including provision that funds, including the proceeds of bonds, which are trust funds under the ordinance, may be held in trust by the trustee for the primary benefit and payment of the holders of the bonds. These trust funds may also be pledged by the trustee pursuant to the ordinance to an entity providing additional security for the bonds pursuant to section 7a(1)(a).
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 141.138
What does Michigan Compiled Laws § 141.138 cover?
Section 141.138 ("Trustee; appointment; powers and duties; pledging of trust funds.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 141.138?
A common citation format is "Michigan Compiled Laws § 141.138" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 141.138 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.