Michigan § 141.2105 - Municipal security; limitations.
Full text of Michigan Michigan Compiled Laws § 141.2105 — Municipal security; limitations., with citation guidance and answers to common questions.
§ 141.2105. Municipal security; limitations.
A municipal security does not include any of the following:
(a) A contract for the purchase of real or personal property.
(b) A contract for the lease of real or personal property with or without an option to purchase.
(c) A contract, lease, note, or other security given in connection with a contract described in subdivision (a) or (b).
(d) A security that is evidence of an emergency loan under section 1 of 1855 PA 105, MCL 21.141, in conjunction with the emergency municipal loan act, 1980 PA 243, MCL 141.931 to 141.942, or qualified agricultural loans under section 2a of 1855 PA 105, MCL 21.142a.
(e) A mortgage secured by real property and its corresponding security to the extent secured by the mortgage.
(f) A contract between 1 or more municipalities under whose terms 1 or more municipalities pledge their revenues or full faith and credit to secure payment of a proposed municipal security issued by 1 of the municipalities.
(g) A loan from the state infrastructure bank as described in section 18m of 1951 PA 51, MCL 247.668m.
Frequently Asked Questions About Michigan § 141.2105
What does Michigan Compiled Laws § 141.2105 cover?
Section 141.2105 ("Municipal security; limitations.") 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 § 141.2105?
A common citation format is "Michigan Compiled Laws § 141.2105" (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 § 141.2105 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.