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8 chapters · 38 sections in this title.
Mich. Comp. Laws § 447.151 Short title.
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Sec. 1. This act shall be known and may be cited as the “Michigan export development act”.
Mich. Comp. Laws § 447.152 Definitions.
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Sec. 2. As used in this act: (a) “Authority” means the Michigan export development authority created by section 3. (b) “Board” means the board of directors of the authority established by section 4. (c) “Eligible export loan” means a loan by a participating financial institution …
Mich. Comp. Laws § 447.153 Michigan export development authority; creation; budgeting, procurement, and related functions; purpose of authority.
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Sec. 3. (1) The Michigan export development authority is created as a body politic and corporate within, but not as a part of, the department of agriculture. The authority shall exercise the authority's prescribed statutory powers, duties, and functions independently of the direc…
Mich. Comp. Laws § 447.154 Board of directors; appointment, qualifications, and terms of members; vacancy; oath or affirmation; reimbursement for expenses; election of chairperson, vice-chairperson, secretary, and other officers; quorum; majority vote sufficient for action; vote necessary for bonds.
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Sec. 4. (1) The governing and administrative powers of the authority are vested in a board of directors consisting of 12 members. Three members shall be the director of the department of commerce, the director of the department of agriculture, and the state treasurer. The directo…