Michigan § 38.1540 - Prohibited conduct.
Full text of Michigan Michigan Compiled Laws § 38.1540 — Prohibited conduct., with citation guidance and answers to common questions.
§ 38.1540. Prohibited conduct.
Members of the retirement board and employees of the retirement system are prohibited from:
Having any beneficial interest, direct or indirect, in any investment of the retirement system.
Being an endorser or obligor, or providing surety, for any money loaned to or borrowed from the retirement system.
Borrowing any of the money or other assets of the retirement system.
Receiving any pay or emolument from any individual or organization, other than compensation paid by the retirement system, with respect to investments of the retirement system.
Frequently Asked Questions About Michigan § 38.1540
What does Michigan Compiled Laws § 38.1540 cover?
Section 38.1540 ("Prohibited conduct.") 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 § 38.1540?
A common citation format is "Michigan Compiled Laws § 38.1540" (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 § 38.1540 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.