{"data":{"id":"us-mi/mich.-comp.-laws-38.1140k","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 38.1140k","heading":"Investment in global securities; prohibited conduct.","body":"Sec. 20k.\n\n(1) Notwithstanding a percentage of total assets limitation for an investment provided in any other section of this act, an investment fiduciary who is the state treasurer or the investment fiduciary of a system that has assets of $2,000,000,000.00 or more may invest not more than 30% of a system's assets in global securities. An investment fiduciary of a system that has assets of less than $2,000,000,000.00 and who is not the state treasurer may invest not more than 20% of a system's assets in global securities. Except as otherwise provided in this act, an investment fiduciary shall not do any of the following:\n\n(a) Invest in more than 5% of the outstanding global securities of any 1 issuer.\n\n(b) Invest more than 5% of a system's assets in the global securities of any 1 issuer.\n\n(2) Investments in global securities under this section shall be made only by investment fiduciaries described in section 13(11) who have demonstrated expertise in investments of that type.","path":["MI Code","Chapter 38","Act Act-314-of-1965"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-38-1140k","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"339aac57404d7dc00f9d3430b57b236e681e11db99c3e621cfbf2b618023765a","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-38.1140j","next":"us-mi/mich.-comp.-laws-38.1140l"},"notice":"GroundRules: Original legal text. Not legal advice."}