Michigan § 457.675 - Reserve fund; loaning, investment and control.
Full text of Michigan Michigan Compiled Laws § 457.675 — Reserve fund; loaning, investment and control., with citation guidance and answers to common questions.
§ 457.675. Reserve fund; loaning, investment and control.
The bund shall have power to create a reserve fund for the purpose of providing against unforeseen contingencies and calamities, and to loan only to its own members upon real estate security or invest only in bonds issued by the state of Michigan or any political division or municipality thereof, such portions of said reserve fund as are not immediately required: Provided, however, The creation and amount of said reserve fund and directions regarding the investment of the same shall be under the exclusive control of the convention of delegates, although the convention of delegates may delegate under general directions the details of investment to such officers as they deem proper.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 457.675
What does Michigan Compiled Laws § 457.675 cover?
Section 457.675 ("Reserve fund; loaning, investment and control.") 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 § 457.675?
A common citation format is "Michigan Compiled Laws § 457.675" (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 § 457.675 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.