{"data":{"id":"us-mi/mich.-comp.-laws-500.917","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 500.917","heading":"Mortgage-backed securities; certain securities described in secondary mortgage market enhancement act of 1984 subject to limitations; definition.","body":"Sec. 917.\n\nQualified assets for purposes of section 901 include mortgage-backed securities backed by pools of residential mortgages and rated investment grade by a securities rating organization approved by the commissioner. Any securities described in section 106 of title I of the secondary mortgage market enhancement act of 1984, Public Law 98-440, 15 U.S.C. 77r-1, shall be subject to all the limitations prescribed by this chapter for investments not guaranteed by the full faith and credit of the United States.\n\nAs used in this section, \"mortgage-backed securities\" means securities representing an ownership interest in, or as to which payments are secured directly or indirectly by, a pool of mortgages or by the cash flows generated by a pool of mortgages and shall include, but are not limited to, mortgage pass-through securities and collateralized mortgage obligations.","path":["MI Code","Chapter 500","Act Act-218-of-1956"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-500-917","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"20c06729651e2962ed13d5b5565792620de1365e3d3a298958aaee7ca98ab209","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-500.916","next":"us-mi/mich.-comp.-laws-500.917a"},"notice":"GroundRules: Original legal text. Not legal advice."}