Michigan Compiled Laws, Chapters 760 to 777 Code of Criminal Procedure § 774.26c

Sec. 26c. (1) Each 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.

(2) Withdrawals 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.

(3) Assets acceptable for pledging to secure deposits of municipal court funds are limited to any of the following:

(4) As 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.