Michigan § 41.738 - Use of interest earned from investments, money from bond proceeds, or money from interest and penalties on unpaid special assessment.
Full text of Michigan Michigan Compiled Laws § 41.738 — Use of interest earned from investments, money from bond proceeds, or money from interest and penalties on unpaid special assessment., with citation guidance and answers to common questions.
§ 41.738. Use of interest earned from investments, money from bond proceeds, or money from interest and penalties on unpaid special assessment.
Interest earned from the investment of money collected under a special assessment under this act or of money received as bond proceeds from a bond issued under this act, or money from interest or penalties charged and collected on an unpaid special assessment under this act shall only be used for the following:
To pay for the improvement for which the special assessment is assessed.
To pay the principal and interest of bonds that are issued for the improvement for which the special assessment is assessed.
To pay the principal and interest of an advance from the township that is used for the improvement for which the special assessment is assessed.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 41.738
What does Michigan Compiled Laws § 41.738 cover?
Section 41.738 ("Use of interest earned from investments, money from bond proceeds, or money from interest and penalties on unpaid special assessment.") 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 § 41.738?
A common citation format is "Michigan Compiled Laws § 41.738" (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 § 41.738 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.