Michigan § Article IX § 19 - Subscription to or interest in stock by state prohibited; exceptions.
Full text of Michigan Michigan Compiled Laws § Article IX § 19 — Subscription to or interest in stock by state prohibited; exceptions., with citation guidance and answers to common questions.
§ Article IX § 19. Subscription to or interest in stock by state prohibited; exceptions.
The state shall not subscribe to, nor be interested in the stock of any company, association or corporation, except as follows:
Funds accumulated to provide retirement or pension benefits for public officials and employees may be invested as provided by law.
Endowment funds created for charitable or educational purposes may be invested as provided by law governing the investment of funds held in trust by trustees.
Funds held as permanent funds or endowment funds other than those described in subdivision (b) may be invested as provided by law.
Except as otherwise provided in this section, other state funds or money may be invested in accounts of a bank, savings and loan association, or credit union organized under the laws of this state or federal law, as provided by law.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § Article IX § 19
What does Michigan Compiled Laws § Article IX § 19 cover?
Section Article IX § 19 ("Subscription to or interest in stock by state prohibited; exceptions.") 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 § Article IX § 19?
A common citation format is "Michigan Compiled Laws § Article IX § 19" (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 § Article IX § 19 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.