{"data":{"id":"us-mi/mich.-comp.-laws-38.1139a","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 38.1139a","heading":"State treasurer as investment fiduciary; investments in private equity; limitation; investment fiduciary not state treasurer; limitation.","body":"Sec. 19a.\n\n(1) If the investment fiduciary is the state treasurer, investments in private equity shall not be more than 30% of the system's total assets. If the investment fiduciary is not the state treasurer and the system has assets of $1,000,000,000.00 or more, investments in private equity shall not be more than 10% of the system's total assets. An investment fiduciary described in this subsection may invest not more than an additional 5% of the system's assets in Michigan private equity only.\n\n(2) An investment fiduciary of a system that has assets of $250,000,000.00 or more but less than $1,000,000,000.00 shall not invest more than 5% of the system's assets in Michigan private equity. An investment fiduciary may otherwise invest in private equity under section 20d.","path":["MI Code","Chapter 38","Act Act-314-of-1965"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-38-1139a","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"8624fdef99dd15643e2105f83e82552b3cb4c4bbb82c3efeeb6121720bc91c09","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-38.1139","next":"us-mi/mich.-comp.-laws-38.1139b"},"notice":"GroundRules: Original legal text. Not legal advice."}