§ 35-46.3 DIVERSION OF ASSETS PROHIBITED.

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Flint, MI Code of Ordinances

CITY OF FLINT, MICHIGAN CODE OF ORDINANCES

PART I. CHARTER

PART II. THE CODE OF ORDINANCES

PART III: PARALLEL REFERENCES AND INDEX

§ 35-46.3 DIVERSION OF ASSETS PROHIBITED.

All assets of the retirement system shall be held and invested for the sole purpose of meeting the legitimate obligations of the retirement system and shall be used for no other purpose. No part of the assets shall be used for or diverted to purposes other than for the exclusive benefits of members and beneficiaries prior to satisfaction of all retirement system obligations.

(Ord. 3297, passed 5-22-1995)

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