Michigan § 38.1047 - State treasurer as ex officio treasurer of retirement system; duties.
Full text of Michigan Michigan Compiled Laws § 38.1047 — State treasurer as ex officio treasurer of retirement system; duties., with citation guidance and answers to common questions.
§ 38.1047. State treasurer as ex officio treasurer of retirement system; duties.
The state treasurer shall be ex officio the treasurer of the retirement system and shall:
Act as official custodian of the cash and securities belonging to the retirement system and provide adequate safe deposit facilities for the preservation of the securities and hold the cash and securities subject to the order of the board.
Receive from the secretary all items of cash belonging to the retirement system, as the items of cash are transmitted by the secretary of the retirement system, including member contributions, state contributions, interest and principal on investments, and other income accruing to the retirement system, and deposit all amounts in a special trust fund for the account of the retirement system, and notify the board of all the transactions semiannually.
Furnish a corporate surety bond acceptable to the board of that amount as the board designates. The bond shall indemnify the board against any loss which may result from any action or failure to act on the part of the treasurer or any of his or her agents. All reasonable charges incidental to the procuring and giving of the bond shall be paid by the board.
Invest and reinvest, in the manner permitted by the board, the cash assets of the system in excess of the amount required for current operations.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 38.1047
What does Michigan Compiled Laws § 38.1047 cover?
Section 38.1047 ("State treasurer as ex officio treasurer of retirement system; duties.") 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 § 38.1047?
A common citation format is "Michigan Compiled Laws § 38.1047" (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 § 38.1047 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.