Outstanding security definition
Outstanding security means a security that has been issued, but not defeased or repaid, including a security that when issued was exempt from this act or former 1943 PA 202, by the provisions of this act or by former 1943 PA 202 or by the provisions of the law authorizing its issuance.
Outstanding security means a security that has been issued, but not defeased or repaid, including a security that when issued was exempt from this Act or the Municipal Finance Act, 1943 PA 202, MCL 131.1 to 139.3, by the provisions of this act or by the provisions of the Municipal Finance Act, 1943 PA 202, MCL 131.1 to 139.3, or by the provisions of the law authorizing its issuance.