{"data":{"id":"us-mi/mich.-comp.-laws-774.26c","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 774.26c","heading":"Account in financial institution for money received in criminal cases; deposits and withdrawals; secured deposits; limitation on acceptable assets; “financial institution” defined.","body":"Sec. 26c.\n\nEach municipal court shall maintain a separate account in a financial institution for money received in criminal cases. All money received in criminal cases shall be deposited in the account daily if the receipts exceed $500.00, or whenever the receipts exceed $500.00.\n\nWithdrawals from the account shall be made only by check and only for the purposes of making a deposit with the county treasurer, making refunds or transfers of cash bail bonds, making payments for restitution, or making refunds to defendants in case of an error.\n\nAssets acceptable for pledging to secure deposits of municipal court funds are limited to any of the following:\n\nAssets considered acceptable to the state treasurer under section 3 of 1855 PA 105, MCL 21.143, to secure deposits of state surplus funds.\n\nAny of the following:\n\nSecurities issued by the federal home loan mortgage corporation.\n\nSecurities issued by the federal national mortgage association.\n\nSecurities issued by the government national mortgage association.\n\nOther securities considered acceptable to the municipal court and the financial institution.\n\nAs used in this section, \"financial institution\" means a state or nationally chartered bank or a state or federally chartered savings and loan association, savings bank, or credit union whose deposits are insured by an agency of the United States government and which maintains a principal office or branch office located in this state under the laws of this state or the United States.","path":["MI Code","Chapter 760","Act Act-175-of-1927"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-774-26c","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"39dd5ce7cb04fb2485bbd26754eddecaed98bbd97c997a90fb23b21c4cc735da","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-774.26b","next":"us-mi/mich.-comp.-laws-774.26d"},"notice":"GroundRules: Original legal text. Not legal advice."}