{"data":{"id":"us-mi/mich.-comp.-laws-article-ix-19","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § Article IX § 19","heading":"Subscription to or interest in stock by state prohibited; exceptions.","body":"Sec. 19.\n\nThe state shall not subscribe to, nor be interested in the stock of any company, association or corporation, except as follows:\n\nFunds accumulated to provide retirement or pension benefits for public officials and employees may be invested as provided by law.\n\nEndowment funds created for charitable or educational purposes may be invested as provided by law governing the investment of funds held in trust by trustees.\n\nFunds held as permanent funds or endowment funds other than those described in subdivision (b) may be invested as provided by law.\n\nExcept as otherwise provided in this section, other state funds or money may be invested in accounts of a bank, savings and loan association, or credit union organized under the laws of this state or federal law, as provided by law.","path":["MI Code","Chapter 1","Act CONSTITUTION-OF-MICHIGAN-OF-1963"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-Article%20IX%20%C2%A7%2019","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"ab8ef017a1edb4237ed2fda284da9d2314606b7d6896702ae883a02bfd16c647","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-article-ix-18","next":"us-mi/mich.-comp.-laws-article-ix-2"},"notice":"GroundRules: Original legal text. Not legal advice."}