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Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000900092-09-001183.txt : 20091223
<SEC-HEADER>0000900092-09-001183.hdr.sgml : 20091223
<ACCEPTANCE-DATETIME>20091223140809
ACCESSION NUMBER:		0000900092-09-001183
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20091031
FILED AS OF DATE:		20091223
DATE AS OF CHANGE:		20091223
EFFECTIVENESS DATE:		20091223

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK MUNIYIELD MICHIGAN INSURED FUND, INC.
		CENTRAL INDEX KEY:			0000890393
		IRS NUMBER:				223196060
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07080
		FILM NUMBER:		091257613

	BUSINESS ADDRESS:	
		STREET 1:		800 SCUDDERS MILL RD
		CITY:			PLAINSBORO
		STATE:			NJ
		ZIP:			08536
		BUSINESS PHONE:		6092825284

	MAIL ADDRESS:	
		STREET 1:		800 SCUDDERS MILL RD
		CITY:			PLAINSBORO
		STATE:			NJ
		ZIP:			08536

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MUNIYIELD MICHIGAN INSURED FUND INC
		DATE OF NAME CHANGE:	20020620

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MUNIYIELD MICHIGAN INSURED FUND II INC
		DATE OF NAME CHANGE:	20020620

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MUNIYIELD MICHIGAN INSURED FUND INC
		DATE OF NAME CHANGE:	19920929
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>miy.htm
<DESCRIPTION>MIY
<TEXT>

<HTML>
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   <TITLE>miy.htm - Produced by Pellegrini and Associates, Inc.  |  134 Spring Street New York NY 10012  |  (212) 925-5151</TITLE>
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<P align="center">
<FONT face="ArialMT,Arial,Helvetica,sans-serif">UNITEDSTATES</FONT><BR>
<FONT face="ArialMT,Arial,Helvetica,sans-serif">SECURITIESANDEXCHANGECOMMISSION</FONT><BR>
<FONT face="ArialMT,Arial,Helvetica,sans-serif">Washington,D.C.20549</FONT><BR>
<BR>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">FORM N-Q</FONT></B><BR>
<BR>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED</FONT></B><BR>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">MANAGEMENT INVESTMENT COMPANY</FONT></B></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Investment Company Act file number 811-07080</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name of Fund: BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">MuniYield Michigan Insured Fund, Inc., 55 East 52</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">nd </FONT></SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Street, New York, NY 10055.</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Registrant&#146;s telephone number, including area code: (800) 882-0052, Option 4</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date of fiscal year end: 07/31/2010</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date of reporting period: 10/31/2009</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item 1 &#150; Schedule of Investments</FONT></P>

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<TABLE border=0 cellspacing=0>
<TR>
     <TD width=29%></TD>
     <TD width=37%></TD>
     <TD width=11%></TD>
     <TD width=10%></TD>
     <TD width=10%></TD></TR>
<TR valign="bottom">
	<TD align=left colspan=2>
<B><FONT face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Schedule of Investments October 31, 2009 (Unaudited)</FONT></B>&nbsp;</TD>
	<TD align=right colspan=3 style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets)</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Michigan - 140.8%</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Corporate - 19.2%</FONT></B>&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Delta County EDC, Refunding RB, MeadWestvaco - Escanaba,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Series B, AMT, 6.45%, 4/15/12 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 1,500</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 1,694,805</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Dickinson County EDC, Michigan, Refunding RB, International</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Paper Co. Project, Series A, 5.75%, 6/01/16</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,900</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,919,071</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan Strategic Fund, Refunding RB, Detroit Edison Co.,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Series A, AMT (MBIA), 5.55%, 9/01/29</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">10,250</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">10,008,408</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Monroe County EDC, Michigan, Refunding RB, Detroit Edison</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Co., Series AA (MBIA), 6.95%, 9/01/22</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">15,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">17,176,500</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Saint Clair County EDC, Michigan, Refunding RB, Detroit</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Edison, Series AA (AMBAC), 6.40%, 8/01/24</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">17,800</FONT>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">18,036,740</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">50,835,524</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">County/City/Special District/School</FONT></B>&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Adrian City School District, Michigan, GO (FSA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">District - 44.8%</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.00%, 5/01/14 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,600</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,091,616</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Avondale School District, Michigan, GO, Refunding (AGC),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4.00%, 5/01/20</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">953,920</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Avondale School District, Michigan, GO, Refunding (AGC),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4.30%, 5/01/22</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">400</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">383,540</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Bay City School District, Michigan, GO, School Building &amp; Site</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(FSA), 5.00%, 5/01/36</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">9,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">9,029,700</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Birmingham City School District, Michigan, GO, School Building</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">&amp; Site (FSA), 5.00%, 11/01/33</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,017,250</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">City of Oak Park Michigan, GO, Street Improvement (MBIA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.00%, 5/01/30</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">500</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">508,600</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">County of Wayne Michigan, GO, Building Authority, Capital</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Improvement, Series A (MBIA), 5.25%, 6/01/16</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,003,510</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Dearborn Brownfield Redevelopment Authority, GO, Limited</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Tax, Redevelopment, Series A (AGC), 5.50%, 5/01/39</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,300</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,410,220</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Detroit City School District, Michigan, GO, Refunding, School</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Building &amp; Site Improvement, Series A (FSA), 5.00%, 5/01/21</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,048,570</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Detroit City School District, Michigan, GO, School Building &amp;</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Site Improvement, Series A (FGIC), 5.38%, 5/01/13 (a)</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,300</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,469,364</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Detroit City School District, Michigan, GO, School Building &amp;</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Site Improvement, Series B (FGIC), 5.00%, 5/01/28</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,100</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,942,148</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Eaton Rapids Public Schools, Michigan, GO, School Building &amp;</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Site (FSA), 5.25%, 5/01/20</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,325</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,429,317</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Eaton Rapids Public Schools, Michigan, GO, School Building &amp;</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Site (FSA), 5.25%, 5/01/21</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,675</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,800,876</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Ecorse Public School District, Michigan, GO, Refunding (FSA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.00%, 5/01/27</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,029,530</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Frankenmuth School District, Michigan, GO (FGIC),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.75%, 5/01/10 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,027,320</FONT>&nbsp;</TD>
</TR>
</TABLE><BR>
<P align="left">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Portfolio Abbreviations</FONT></B><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">abbreviated according to the following list.</FONT></P>
<TABLE border=0 cellspacing=0>
<TR>
     <TD width=6%></TD>
     <TD width=43%></TD>
     <TD width=18%></TD>
     <TD width=31%></TD></TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">ACA</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">American Capital Access Corp.</FONT>&nbsp;</TD>
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">GNMA</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Government National Mortgage Association</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">AGC</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Assured Guaranty Corp.</FONT>&nbsp;</TD>
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">GO</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">General Obligation Bonds</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">AMT</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Alternative Minimum Tax (subject to)</FONT>&nbsp;</TD>
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">HDA</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Housing Development Authority</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">AMBAC</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">American Municipal Bond Assurance Corp.</FONT>&nbsp;</TD>
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">HFA</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Housing Finance Agency</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">CAB</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Capital Appreciation Bonds</FONT>&nbsp;</TD>
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">MBIA</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Municipal Bond Investors Assurance (National</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">COP</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Certificates of Participation</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Public Finance Guaranty Corp.)</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">EDC</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Economic Development Corp.</FONT>&nbsp;</TD>
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">RB</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Revenue Bonds</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">FGIC</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Financial Guaranty Insurance Co.</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">FSA</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Financial Security Assurance Inc.</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
</TABLE><BR>
<P align="left">
<FONT size=1 face="Arial,Arial,Helvetica,sans-serif">1</FONT></P>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always"></div>



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<TABLE border=0 cellspacing=0>
<TR>
     <TD width=66%></TD>
     <TD width=11%></TD>
     <TD width=10%></TD>
     <TD width=10%></TD></TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Schedule of Investments October 31, 2009 (Unaudited)</FONT></B>&nbsp;</TD>
	<TD align=right colspan=3 style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets)</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Gibraltar School District, Michigan, GO, School Building &amp;
Site</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(FGIC), 5.00%, 5/01/14 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 2,940</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 3,341,486</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Gibraltar School District, Michigan, GO, School Building &amp;
Site</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(MBIA), 5.00%, 5/01/28</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">710</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">722,588</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Grand Blanc Community Schools, Michigan, GO
(MBIA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.63%, 5/01/20</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,100</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,163,976</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Grand Rapids Building Authority, Michigan, RB, Series
A</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(AMBAC), 5.50%, 10/01/12 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,035</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,166,755</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Gull Lake Community School District, Michigan, GO,
School</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Building &amp; Site (FSA), 5.00%, 5/01/14 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5,625</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,393,150</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Harper Creek Community School District, Michigan,
GO,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Refunding (FSA), 5.00%, 5/01/22</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,125</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,176,143</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Harper Woods School District, Michigan, GO, School Building
&amp;</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Site (FGIC), 5.00%, 5/01/14 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,345</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,938,353</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Harper Woods School District, Michigan, GO, School Building
&amp;</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Site (MBIA), 5.00%, 5/01/34</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">430</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">430,856</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Jenison Public Schools, Michigan, GO, Building &amp; Site
(MBIA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.50%, 5/01/19</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,575</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,683,014</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Lanse Cruese Michigan Public Schools, GO, School Building
&amp;</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Site (FSA), 5.00%, 5/01/35</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,033,060</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Lansing Building Authority, Michigan, GO, Series A
(MBIA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.38%, 6/01/13 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,510</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,716,930</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Lincoln Consolidated School District, Michigan, GO,
Refunding,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4.63%, 5/01/28</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5,500</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5,415,960</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Livonia, Michigan, Public School District, GO,
Refunding,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Series A, 5.00%, 5/01/24</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,030,980</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Building Authority, AMT, 5.50%,
10/15/18</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,500</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,581,877</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Building Authority, Refunding RB,
Facilities</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Program, Series I (FSA), 5.50%, 10/15/10 (b)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,250</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,529,693</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Building Authority, Refunding RB,
Facilities</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Program, Series I (FSA), 5.50%, 10/15/11</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">15,030</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">16,105,304</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Montrose Township School District, Michigan, GO
(MBIA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">6.20%, 5/01/17</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,163,050</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">New Haven Community Schools Michigan, GO,
Refunding,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">School Building and Site (FSA), 5.00%,
5/01/23</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,500</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,545,285</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Orchard View Schools, Michigan, GO, School Building &amp;
Site</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(MBIA), 5.00%, 11/01/13 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5,320</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,034,795</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennfield School District, Michigan, GO, School Building &amp;
Site</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(FGIC), 5.00%, 5/01/14 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,370</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,550,114</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Reed City Public Schools, Michigan, GO, School Building &amp;
Site</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(FSA), 5.00%, 5/01/14 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,425</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,619,598</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Southfield Library Building Authority, Michigan, GO
(MBIA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.50%, 5/01/10 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,300</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,333,891</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Southfield Public Schools, Michigan, GO, School Building
&amp;</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Site, Series B (FSA), 5.00%, 5/01/14 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,500</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,960,145</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Thornapple Kellogg School District, Michigan, GO,
Refunding,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">School Building &amp; Site (MBIA), 5.00%,
5/01/32</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,500</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,521,775</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Waverly Community School, GO (FGIC), 5.50%, 5/01/10
(a)</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,100</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,128,050</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Wayne Charter County Michigan, GO, Airport Hotel,
Detroit</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Metropolitan Airport, Series A (MBIA), 5.00%,
12/01/30</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,750</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,716,400</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">West Bloomfield School District, Michigan, GO,
Refunding</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(MBIA), 5.50%, 5/01/17</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,710</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,844,509</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">West Bloomfield School District, Michigan, GO,
Refunding</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(MBIA), 5.50%, 5/01/18</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,225</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,315,160</FONT>&nbsp;</TD>
</TR>
</TABLE><BR>
<P align="center">
<FONT size=1 face="Arial,Arial,Helvetica,sans-serif">2</FONT></P>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always"></div>



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<A name="page_5"></A>

<TABLE border=0 cellspacing=0>
<TR>
     <TD width=22%></TD>
     <TD width=43%></TD>
     <TD width=11%></TD>
     <TD width=10%></TD>
     <TD width=10%></TD></TR>
<TR valign="bottom">
	<TD align=left colspan=2>
<B><FONT face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Schedule of Investments October 31, 2009 (Unaudited)</FONT></B>&nbsp;</TD>
	<TD align=right colspan=3 style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets)</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
 &nbsp; &nbsp;<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Zeeland Public Schools, Michigan, GO, School Building &amp; Site</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(MBIA), 5.00%, 5/01/29</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 1,600</FONT>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 1,638,832</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">118,947,210</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Education - 6.8%</FONT></B>&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Eastern Michigan University, Michigan, RB, General, Series B</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(FGIC), 5.60%, 6/01/10 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,500</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,545,765</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Eastern Michigan University, Michigan, RB, General, Series B</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(FGIC), 5.63%, 6/01/10 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,310</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,350,165</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Eastern Michigan University, Michigan, Refunding RB, General</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(AMBAC), 6.00%, 6/01/10 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">590</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">615,517</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Eastern Michigan University, Michigan, Refunding RB, General</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(AMBAC), 6.00%, 6/01/20</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">435</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">448,041</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Grand Valley State University, Michigan, RB (MBIA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.50%, 2/01/18</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,070</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,241,603</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan Higher Education Facilities Authority, Michigan, RB,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Limited Obligation, Hillsdale College Project, 5.00%, 3/01/35</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,875</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,730,681</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan Higher Education Facilities Authority, Michigan,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Refunding RB, Limited Obligation, Creative Studies,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.85%, 6/01/12 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,235</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,378,198</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan Higher Education Facilities Authority, Michigan,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Refunding RB, Limited Obligation, Creative Studies,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.90%, 6/01/12 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,145</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,279,217</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan Higher Education Student Loan Authority, Michigan,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">RB, Student Loan, Series XVII-B, AMT (AMBAC),</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.40%, 6/01/18</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,500</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,506,025</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan Higher Education Student Loan Authority, Michigan,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">RB, Student Loan, Series XVII-Q, AMT (AMBAC),</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.00%, 3/01/31</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,721,780</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Saginaw Valley State University, Michigan, Refunding RB,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">General (MBIA), 5.00%, 7/01/24</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,100</FONT>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,144,541</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">17,961,533</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Health - 20.5%</FONT></B>&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">County of Dickinson Michigan, Refunding RB (ACA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.80%, 11/01/24</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,100</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,959,632</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Flint Hospital Building Authority, Michigan, Refunding RB,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Hurley Medical Center (ACA), 6.00%, 7/01/20</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,305</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,200,535</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Flint Hospital Building Authority, Michigan, Refunding RB,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Hurley Medical Center, Series A (ACA), 5.38%, 7/01/20</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">615</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">535,911</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Kent Hospital Finance Authority, Michigan, RB, Spectrum</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Health, Series A (MBIA), 5.50%, 7/15/11 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,264,870</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Kent Hospital Finance Authority, Michigan, Refunding RB,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Butterworth, Series A (MBIA), 7.25%, 1/15/13</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,685</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,903,210</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Hospital Finance Authority, Michigan, RB,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Hospital, Mid-Michigan Obligation Group, Series A (AMBAC),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.50%, 4/15/18</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,530</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,575,818</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Hospital Finance Authority, Michigan, RB,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">McLaren Health Care, 5.75%, 5/15/38</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,500</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,530,015</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Hospital Finance Authority, Michigan, RB,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">McLaren Health Care, Series C, 5.00%, 8/01/35</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">913,530</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Hospital Finance Authority, Michigan, RB, Mid-</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan Obligation Group, Series A, 5.00%, 4/15/36</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,750</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,619,555</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Hospital Finance Authority, Michigan, RB,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Series A, Trinity Health, 6.25%, 12/01/28</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">930</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,008,353</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Hospital Finance Authority, Michigan, RB,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Series A, Trinity Health, 6.50%, 12/01/33</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,099,210</FONT>&nbsp;</TD>
</TR>
</TABLE><BR>
<P align="center">
<FONT size=1 face="Arial,Arial,Helvetica,sans-serif">3</FONT></P>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always"></div>



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<A name="page_6"></A>

<TABLE border=0 cellspacing=0>
<TR>
     <TD width=22%></TD>
     <TD width=44%></TD>
     <TD width=12%></TD>
     <TD width=10%></TD>
     <TD width=10%></TD></TR>
<TR valign="bottom">
	<TD align=left colspan=2>
<B><FONT face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Schedule of Investments October 31, 2009 (Unaudited)</FONT></B>&nbsp;</TD>
	<TD align=right colspan=3 style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets)</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Hospital Finance Authority, Michigan, Refunding</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">RB, Henry Ford Health System, Series A,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.25%, 11/15/46</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 2,500</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 2,168,350</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Hospital Finance Authority, Michigan, Refunding</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">RB, Hospital, Crittenton, Series A, 5.63%, 3/01/27</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,050</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,019,722</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Hospital Finance Authority, Michigan, Refunding</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">RB, Hospital, Oakwood Obligation Group, Series A,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.00%, 7/15/25</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,100</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,760,520</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Hospital Finance Authority, Michigan, Refunding</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">RB, Hospital, Oakwood Obligation Group, Series A,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.00%, 7/15/37</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">630</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">533,390</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Hospital Finance Authority, Michigan, Refunding</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">RB, Hospital, Sparrow Obligated, 5.00%, 11/15/31</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,100</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,929,810</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Hospital Finance Authority, Michigan, Refunding</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">RB, Trinity Health Credit, C, 5.38%, 12/01/23</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,009,700</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Hospital Finance Authority, Michigan, Refunding</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">RB, Trinity Health Credit, C, 5.38%, 12/01/30</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,755</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,756,389</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Hospital Finance Authority, Michigan, Refunding</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">RB, Trinity Health Credit, D, 5.00%, 8/15/34</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,100</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,060,723</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Hospital Finance Authority, Michigan, Refunding</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">RB, Trinity Health, Series A (AMBAC),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">6.00%, 12/01/27</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,400</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,542,848</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Hospital Finance Authority, Michigan, Refunding</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">RB, Trinity Health, Series A, 6.00%, 12/01/20</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,200</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,260,896</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Royal Oak Hospital Finance Authority, Michigan, RB, William</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Beaumont Hospital, 8.25%, 9/01/39</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,161,390</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Saginaw Hospital Finance Authority, Michigan, Refunding RB,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Covenant Medical Center, Series E (MBIA), 5.63%, 7/01/13</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,500</FONT>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,529,500</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">54,343,877</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Housing - 4.5%</FONT></B>&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State HDA, RB College Program, Deaconess Tower,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">AMT (GNMA), 5.25%, 2/20/48</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">982,420</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State HDA, RB College Program, Williams Pavilion,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">AMT (GNMA), 4.75%, 4/20/37</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,960</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,662,802</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State HDA, RB, Non Ace, Series A, 6.00%, 10/01/45</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,990</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,154,265</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State HDA, RB, Series A, AMT (MBIA),</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.30%, 10/01/37</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">200</FONT>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">198,836</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">11,998,323</FONT>&nbsp;</TD>
</TR>
</TABLE><BR>
<P align="center">
<FONT size=1 face="Arial,Arial,Helvetica,sans-serif">4</FONT></P>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always"></div>



<!--$$/page=-->
<A name="page_7"></A>

<TABLE border=0 cellspacing=0>
<TR>
     <TD width=25%></TD>
     <TD width=41%></TD>
     <TD width=11%></TD>
     <TD width=10%></TD>
     <TD width=10%></TD></TR>
<TR valign="bottom">
	<TD align=left colspan=2>
<B><FONT face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Schedule of Investments October 31, 2009 (Unaudited)</FONT></B>&nbsp;</TD>
	<TD align=right colspan=3 style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets)</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">State - 8.5%</FONT></B>&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan Municipal Bond Authority, Michigan, RB, Local</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Government, Charter County Wayne, Series B (AGC),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.00%, 11/01/14</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 2,400</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 2,637,816</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan Municipal Bond Authority, Michigan, RB, Local</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Government, Charter County Wayne, Series B (AGC),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.00%, 11/01/15</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,500</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,642,620</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan Municipal Bond Authority, Michigan, RB, Local</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Government, Charter County Wayne, Series B (AGC),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.00%, 11/01/16</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">500</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">546,255</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan Municipal Bond Authority, Michigan, RB, Local</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Government, Charter County Wayne, Series B (AGC),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.38%, 11/01/24</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">125</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">133,836</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan Municipal Bond Authority, Michigan, RB, Local</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Government Loan Program, Group A (AMBAC),</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.50%, 11/01/20</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,065</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,087,929</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Building Authority, RB, Program Series I (AGC),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.25%, 10/15/26</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">600</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">628,422</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Building Authority, Refunding RB, Facilities</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Program, Series I, 6.25%, 10/15/38</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,900</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,204,668</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Building Authority, Refunding RB, Facilities</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Program, Series I (AGC), 5.25%, 10/15/24</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,220,160</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Building Authority, Refunding RB, Facilities</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Program, Series I (AGC), 5.25%, 10/15/25</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,096,700</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Michigan State Building Authority, Refunding RB, Facilities</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Program, Series II (MBIA), 5.00%, 10/15/29</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,500</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,508,645</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">State of Michigan, COP (AMBAC), 5.53%, 6/01/22 (b)(c)</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,000</FONT>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,780,830</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">22,487,881</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Transportation - 16.9%</FONT></B>&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Wayne Charter County Michigan, RB, Detroit Metropolitan</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Wayne County, Series A, AMT (MBIA), 5.38%, 12/01/15</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">10,660</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">10,764,148</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Wayne County Airport Authority, RB, Detroit Metropolitan</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Wayne County Airport, AMT (MBIA), 5.25%, 12/01/25</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,525</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,058,074</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Wayne County Airport Authority, RB, Detroit Metropolitan</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Wayne County Airport, AMT (MBIA), 5.25%, 12/01/26</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,300</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5,849,802</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Wayne County Airport Authority, RB, Detroit Metropolitan</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Wayne County Airport, AMT (MBIA), 5.00%, 12/01/34</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">9,160</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,947,399</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Wayne County Airport Authority, Refunding RB, AMT (AGC),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.75%, 12/01/25</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,053,400</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Wayne County Airport Authority, Refunding RB, AMT (AGC),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.75%, 12/01/26</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,006,970</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Wayne County Airport Authority, Refunding RB, AMT (AGC),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.38%, 12/01/32</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">8,700</FONT>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">8,137,980</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">44,817,773</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Utilities - 19.6%</FONT></B>&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">City of Detroit Michigan, RB, Second Lien, Series B (FSA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">7.00%, 7/01/36</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,520,770</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">City of Detroit Michigan, RB, Second Lien, Series B (MBIA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.00%, 7/01/13 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,550</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,734,698</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">City of Detroit Michigan, RB, Second Lien, Series B (MBIA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.00%, 7/01/34</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,420</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,251,350</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">City of Detroit Michigan, RB, Senior Lien, Series A (FGIC),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.88%, 1/01/10 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,250</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,274,300</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">City of Detroit Michigan, RB, Senior Lien, Series A (FGIC),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.75%, 7/01/11 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5,250</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5,684,017</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">City of Detroit Michigan, RB, Senior Lien, Series A (FSA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.00%, 7/01/25</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,000</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,060,880</FONT>&nbsp;</TD>
</TR>
</TABLE><BR>
<P align="center">
<FONT size=1 face="Arial,Arial,Helvetica,sans-serif">5</FONT></P>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always"></div>



<!--$$/page=-->
<A name="page_8"></A>

<TABLE border=0 cellspacing=0>
<TR>
     <TD width=29%></TD>
     <TD width=37%></TD>
     <TD width=11%></TD>
     <TD width=11%></TD>
     <TD width=10%></TD></TR>
<TR valign="bottom">
	<TD align=left colspan=2>
<B><FONT face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Schedule of Investments October 31, 2009 (Unaudited)</FONT></B>&nbsp;</TD>
	<TD align=right colspan=3 style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets)</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
 &nbsp; &nbsp; &nbsp; &nbsp;<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">City of Detroit Michigan, RB, Senior Lien, Series A (MBIA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.00%, 7/01/34</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 6,900</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 6,534,645</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">City of Detroit Michigan, RB, Series B (MBIA),</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.25%, 7/01/13 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">11,790</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">13,299,474</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">City of Detroit Michigan, Refunding RB (FGIC),</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">6.25%, 7/01/12 (b)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">860</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">924,973</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">City of Detroit Michigan, Refunding RB, Second Lien, Series C</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(FSA), 5.00%, 7/01/29</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">10,570</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">10,743,031</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">City of Muskegon Heights Michigan, RB, Series A (MBIA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.63%, 11/01/10 (a)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,830</FONT>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,926,093</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">51,954,231</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Total Municipal Bonds in Michigan</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">373,346,352</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Puerto Rico - 4.7%</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Housing - 0.8%</FONT></B>&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Puerto Rico HFA, RB, Subordinate, Capital Fund Modernization,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.13%, 12/01/27</FONT>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,000</FONT>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,996,400</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">State - 2.3%</FONT></B>&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Puerto Rico Public Buildings Authority, Refunding RB,</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Government Facilities, M-3 (MBIA), 6.00%, 7/01/27</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,100</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,164,155</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Puerto Rico Sales Tax Financing Corp., RB, CAB, Series A</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(MBIA), 5.20%, 8/01/43 (c)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">12,500</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,674,125</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Puerto Rico Sales Tax Financing Corp., RB, CAB, Series A</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(MBIA), 4.99%, 8/01/46 (c)</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">20,000</FONT>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,182,600</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,020,880</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Transportation - 1.6%</FONT></B>&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Puerto Rico Highway &amp; Transportation Authority, Refunding</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">RB, Series CC (AGC), 5.50%, 7/01/31</FONT>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,000</FONT>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,385,760</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Total Municipal Bonds in Puerto Rico</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">12,403,040</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Total Municipal Bonds - 145.5%</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">385,749,392</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Municipal Bonds Transferred to</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Tender Option Bond Trusts (d)</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Michigan - 11.9%</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">County/City/Special District/School</FONT></B>&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Lakewood Public Schools, Michigan, GO, School Building &amp; Site</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">District - 4.4%</FONT></B>&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(FSA), 5.00%, 5/01/37</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,775</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,876,316</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Portage Public Schools Michigan, GO, School Building &amp; Site</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(FSA), 5.00%, 5/01/31</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,650</FONT>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,799,497</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">11,675,813</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Education - 7.5%</FONT></B>&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Saginaw Valley State University Michigan, Refunding RB (FSA),</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.00%, 7/01/31</FONT>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,500</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,674,300</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Wayne State University, Refunding RB (FSA), 5.00%, 11/15/35</FONT>&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">12,210</FONT>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">12,342,479</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">20,016,779</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Total Municipal Bonds Transferred to</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Tender Option Bond Trusts - 11.9%</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">31,692,592</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Total Long-Term Investments</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(Cost - &#36;410,769,473) - 157.4%</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">417,441,984</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Short-Term Securities</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Shares</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left colspan=2 style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">CMA Michigan Municipal Money Fund, 0.04% (e)(f)</FONT>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,130,472</FONT>&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,130,472</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Total Short-Term Securities</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(Cost - &#36;6,130,472) - 2.3%</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,130,472</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Total Investments (Cost - &#36;416,899,945*) - 159.7%</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">423,572,456</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Other Assets Less Liabilities - 0.9%</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,558,025</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Liability for Trust Certificates, Including Interest Expense</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=center>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">and Fees Payable - (6.1)%</FONT></B>&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(16,214,489)</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Preferred Shares, at Redemption Value - (54.5)%</FONT></B>&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(144,663,138)</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Net Assets Applicable to Common Shares - 100.0%</FONT></B>&nbsp;</TD>
	<TD align=right colspan=2>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 265,252,854</FONT>&nbsp;</TD>
</TR>
</TABLE><BR>
<P align="center">
<FONT size=1 face="Arial,Arial,Helvetica,sans-serif">6</FONT></P>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always"></div>


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<A name="page_9"></A>
<P align=left><B><FONT face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)</FONT></B><BR>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Schedule of Investments October 31, 2009 (Unaudited)</FONT></B></P>
<P align=center><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">* The cost and unrealized appreciation (depreciation) of investments as of October 31, 2009, as computed for federal</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">income tax purposes, were as follows:</FONT></P>
<TABLE border=0 cellSpacing=0>
<TR>
     <TD width="44%"></TD>
     <TD width="55%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Aggregate cost</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">$ 401,401,800</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Gross unrealized appreciation</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">$ 16,736,829</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Gross unrealized depreciation</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(10,756,173)</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Net unrealized appreciation</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">$ 5,980,656</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(a) US government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">indicated, typically at a premium to par.</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(b) Security is collateralized by Municipal or US Treasury Obligations.</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(c) Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(d) Securities represent bonds transferred to a tender option bond trust in exchange for which the Fund acquired residual interest</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">certificates. These securities serve as collateral in a financing transaction.</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(e) Investments in companies considered to be an affiliate of the Fund, for purposes of Section 2(a)(3) of the Investment Company Act of</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1940, were as follows:</FONT></P>
<TABLE border=0 cellSpacing=0>
<TR>
     <TD width="49%"></TD>
     <TD width="37%"></TD>
     <TD width="12%"></TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Affiliate</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=center>&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Net Activity</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Income</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">CMA Michigan Municipal Money Fund</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">$ (1,399,851)</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">$ 254</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">(f) Represents the current yield as of report date.</FONT><BR>
<BR>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">&#149; </FONT></B><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Fair Value Measurements &#150; Various inputs are used in determining the fair value of investments, which are as follows:</FONT><BR>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">&#149; </FONT></B><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Level 1 - price quotations in active markets/exchanges for identical assets and liabilities</FONT><BR>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">&#149; </FONT></B><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active,</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">corroborated inputs)</FONT><BR>
<BR>
<B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">&#149; </FONT></B><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Level 3 - unobservable inputs based on the best information available in the circumstances, to the extent</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">observable inputs are not available (including the Fund's own assumptions used in determining the fair value of</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">investments)</FONT><BR>
<BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">investing in those securities. For information about the Fund's policy regarding valuation of investments and other</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">significant accounting policies, please refer to the Fund's most recent financial statements as contained in its annual</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">report.</FONT></P>
<P align=center><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">The following table summarizes the inputs used as of October 31, 2009 in determining the fair valuation of the Fund's</FONT><BR>
<FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">investments:</FONT></P>
<TABLE border=0 cellSpacing=0>
<TR>
     <TD width="47%"></TD>
     <TD width="37%"></TD>
     <TD width="15%"></TD></TR>
<TR vAlign=bottom>
     <TD align=center><B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Valuation</FONT></B>&nbsp;</TD>
     <TD align=center><B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Investments in</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Inputs</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Securities</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Assets</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Level 1 - Short-Term Securities</FONT>&nbsp;</TD>
     <TD colSpan=2 align=left><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 6,130,472</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Level 2 - Long-Term Investments</FONT><SUP><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1</FONT></SUP>&nbsp;</TD>
     <TD align=center><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">417,441,984</FONT>&nbsp;</TD>
     <TD align=center></TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">Level 3</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">-</FONT>&nbsp;&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=center></TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Total</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" colSpan=2 align=left><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 423,572,456</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=left><SUP><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">1 </FONT></SUP><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">See above Schedule of Investments for values in each sector.</FONT></P>
<P align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7</FONT></P>
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<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item 2 &#150; Controls and Procedures</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2(a) &#150; The registrant's principal executive and principal financial officers or persons performing similar</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">functions have concluded that the registrant's disclosure controls and procedures (as defined in Rule</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30a-3(c) under the Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;)) are effective as</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of a date within 90 days of the filing of this report based on the evaluation of these controls and</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13(a)-15(b) under the Securities</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exchange Act of 1934, as amended.</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2(b) &#150; There were no changes in the registrant's internal control over financial reporting (as defined in Rule</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter that have</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">materially affected, or are reasonably likely to materially affect, the registrant's internal control over</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial reporting.</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item 3 &#150; Exhibits</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Certifications &#150; Attached hereto</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned,</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">thereunto duly authorized.</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock MuniYield Michigan Insured Fund, Inc.</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">By: </FONT><U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/ Anne F. Ackerley</FONT></U><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Anne F. Ackerley</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Executive Officer of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock MuniYield Michigan Insured Fund, Inc.</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: December 18, 2009</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Act of 1940, this report has been signed below by the following persons on behalf of the registrant</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and in the capacities and on the dates indicated.</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">By: </FONT><U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/ Anne F. Ackerley</FONT></U><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Anne F. Ackerley</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Executive Officer (principal executive officer) of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock MuniYield Michigan Insured Fund, Inc.</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: December 18, 2009</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">By: </FONT><U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/ </FONT></U><U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Neal J.
Andrews</FONT></U><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Neal J. Andrews</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Financial Officer (principal financial officer) of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock MuniYield Michigan Insured Fund, Inc.</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: December 18, 2009</FONT></P>

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<TYPE>EX-99.CERT
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<FILENAME>miyex99cert.htm
<DESCRIPTION>CERT
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<P align="left"> <B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">EX-99.CERT</FONT></B><BR>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF</FONT></B><BR>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">THE SARBANES-OXLEY ACT OF 2002</FONT></B></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">I, Anne F. Ackerley, Chief Executive Officer (principal executive officer) of BlackRock MuniYield Michigan Insured</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fund, Inc., certify that:</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1. I have reviewed this report on Form N-Q of BlackRock MuniYield Michigan Insured Fund, Inc.;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">material fact necessary to make the statements made, in light of the circumstances under which such statements were made,</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">not misleading with respect to the period covered by this report;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">designed under our supervision, to ensure that material information relating to the registrant, including its</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">which this report is being prepared;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">b) designed such internal control over financial reporting, or caused such internal control over financial</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial reporting and the preparation of financial statements for external purposes in accordance with generally</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">accepted accounting principles;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">days prior to the filing date of this report, based on such evaluation; and</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">d) disclosed in this report any change in the registrant's internal control over financial reporting that</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">materially affect, the registrant's internal control over financial reporting; and</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of the registrant's board of directors (or persons performing the equivalent functions):</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a) all significant deficiencies and material weaknesses in the design or operation of internal control over</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process,</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">summarize, and report financial information; and</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">b) any fraud, whether or not material, that involves management or other employees who have a significant</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">role in the registrant's internal control over financial reporting.</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: December 18, 2009</FONT><BR>
<BR>
<U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/ Anne F. Ackerley</FONT></U></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Anne F. Ackerley</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Executive Officer (principal executive officer) of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock MuniYield Michigan Insured Fund, Inc.</FONT></P>
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<P align="left"> <B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">EX-99.CERT</FONT></B><BR>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF</FONT></B><BR>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">THE SARBANES-OXLEY ACT OF 2002</FONT></B></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">I, Neal J. Andrews, Chief Financial Officer (principal financial officer) of BlackRock MuniYield Michigan Insured Fund,</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Inc., certify that:</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1. I have reviewed this report on Form N-Q of BlackRock MuniYield Michigan Insured Fund, Inc.;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">material fact necessary to make the statements made, in light of the circumstances under which such statements were made,</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">not misleading with respect to the period covered by this report;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">designed under our supervision, to ensure that material information relating to the registrant, including its</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">which this report is being prepared;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">b) designed such internal control over financial reporting, or caused such internal control over financial</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial reporting and the preparation of financial statements for external purposes in accordance with generally</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">accepted accounting principles;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">days prior to the filing date of this report, based on such evaluation; and</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">d) disclosed in this report any change in the registrant's internal control over financial reporting that</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">materially affect, the registrant's internal control over financial reporting; and</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of the registrant's board of directors (or persons performing the equivalent functions):</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a) all significant deficiencies and material weaknesses in the design or operation of internal control over</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process,</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">summarize, and report financial information; and</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">b) any fraud, whether or not material, that involves management or other employees who have a significant</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">role in the registrant's internal control over financial reporting.</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: December 18, 2009</FONT><BR>
<BR>
<U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/ </FONT></U><U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Neal J. Andrews</FONT></U></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Neal J. Andrews</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Financial Officer (principal financial officer) of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock MuniYield Michigan Insured Fund, Inc.</FONT></P>
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