{"data":{"id":"us-mi/mich.-comp.-laws-38.1540","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 38.1540","heading":"Prohibited conduct.","body":"Sec. 40.\n\nMembers of the retirement board and employees of the retirement system are prohibited from:\n\nHaving any beneficial interest, direct or indirect, in any investment of the retirement system.\n\nBeing an endorser or obligor, or providing surety, for any money loaned to or borrowed from the retirement system.\n\nBorrowing any of the money or other assets of the retirement system.\n\nReceiving any pay or emolument from any individual or organization, other than compensation paid by the retirement system, with respect to investments of the retirement system.","path":["MI Code","Chapter 38","Act Act-427-of-1984"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-38-1540","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"652c8578ddade3199bdbd4ce9517861995c16c40b035a9bd13a132869d0bcc3a","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-38.1539","next":"us-mi/mich.-comp.-laws-38.1545"},"notice":"GroundRules: Original legal text. Not legal advice."}