Michigan § 141.2603 - Assumption of outstanding security by another municipality; refunding.
Full text of Michigan Michigan Compiled Laws § 141.2603 — Assumption of outstanding security by another municipality; refunding., with citation guidance and answers to common questions.
§ 141.2603. Assumption of outstanding security by another municipality; refunding.
Any outstanding security of a municipality that has been assumed in part by another municipality may be refunded by the municipalities as to their respective liabilities.
This act shall not be construed to prohibit a municipality from refunding any of its outstanding securities even though some other municipality may be required to contribute to the payment of those outstanding securities, and that refunding is hereby expressly authorized. Refunding authorized under this subsection does not relieve any other municipality from a pledge to make a contribution to the payment of an outstanding security.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 141.2603
What does Michigan Compiled Laws § 141.2603 cover?
Section 141.2603 ("Assumption of outstanding security by another municipality; refunding.") 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 § 141.2603?
A common citation format is "Michigan Compiled Laws § 141.2603" (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 § 141.2603 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.