MI HB5834

Amends the 1855 Public Act 105 governing surplus state treasury funds to include "the community bank of Michigan" as an eligible institution for deposits and investments.

Requires the state treasurer to deposit or invest at least 90% of surplus funds in the community bank of Michigan.

Limits deposits, loans, and investments in other financial institutions to no more than 10% of surplus funds for the purposes outlined in sections 1, 2a, 2b, 2c, 2d, 2e, 2f, or 3 of the act.

Changes the definition of "Commissioner" from the commissioner of the office of financial and insurance services to the director of the department of insurance and financial services.

Specifies that "financial institution" excludes the community bank of Michigan and takes effect 90 days after enactment, contingent on passage of related legislation (HB 5833 or the corresponding Senate Bill).