Research About Meet PRIA

Support Data Sources Privacy Policy Terms of Servicehello@policyrisk.com

© 2026 PRIA Technologies, LLC. All rights reserved.

PRIA provides educational policy intelligence and is not a source of investment, legal, or financial advice. Content is for informational purposes only.

™

Your Policy Risk Impact Agent

Research

At My Address
Federal Courts
Daily Briefings
Medicare & Social Security
Policy Risk Index
Congressional Bills
Federal Register
Tariffs
Fed Decisions & The Economy
State Tracker
World Watch
U.S. Code
U.S. Constitution
Aliens

Knowledge

Search Polipedia
Daily Briefings
Calculators
Policy Risk Index
What is Policy Risk?
The Countdown

Company

About PRIA
Support

Get PRIA

Support Data Sources Privacy Policy Terms of Service

hello@policyrisk.com

© 2026 PRIA Technologies, LLC. All rights reserved.

PRIA is a trademark of PRIA Technologies, LLC.

PRIA provides educational policy intelligence and is not a source of investment, legal, or financial advice. Content is for informational purposes only.

Michigan Statutes, Title 390

™

Your Policy Risk Impact Agent

Michigan/Statutes

← All Michigan coverage

Title 390, UNIVERSITIES AND COLLEGES

110 chapters · 499 sections in this title.

All chapters in Title 390499 Ch 316-of-1986, MICHIGAN EDUCATION TRUST ACT22 Ch 269-of-1909, MICHIGAN STATE UNIVERSITY20 Ch 151-of-1851, UNIVERSITY OF MICHIGAN19 Ch 161-of-2000, MICHIGAN EDUCATION SAVINGS PROGRAM ACT16 Ch 222-of-1975, HIGHER EDUCATION LOAN AUTHORITY ACT16 Ch 295-of-1969, HIGHER EDUCATION FACILITIES AUTHORIT…16 Ch 77-of-1960, MICHIGAN HIGHER EDUCATION ASSISTANCE…12 Ch 208-of-1964, STATE COMPETITIVE SCHOLARSHIPS12 Ch 48-of-1963 (2nd Ex. Sess.), CENTRAL, EASTERN, NORTHERN, AND WEST…12 Ch 549-of-2008, MICHIGAN PROMISE ZONE AUTHORITY ACT12 Ch Territorial Laws-of-1833, Vol. III, KALAMAZOO COLLEGE11 Ch 70-of-1885, MICHIGAN TECHNOLOGICAL UNIVERSITY11 Ch 72-of-1857, ALBION COLLEGE11 Ch 315-of-1977, INDEMNIFICATION RESERVE FUND11

16 sections·Filtered byTitle 390✕Ch 222-of-1975✕

Mich. Comp. Laws § 390.1151 Short title.
0.1K chars
Sec. 1. This act shall be known and may be cited as the "higher education loan authority act".
Mich. Comp. Laws § 390.1152 Definitions.
2.2K chars
Sec. 2. As used in this act: (a) "Authority" means the Michigan higher education student loan authority created by section 3. (b) "Bonds" means the bonds authorized to be issued by the authority under this act, which may consist of bonds, notes, term loans, commercial paper, or o…
Mich. Comp. Laws § 390.1153 Authority; creation; autonomous entity; members; terms; quorum; action by authority; meetings.
1.1K chars
Sec. 3. (1) The Michigan higher education student loan authority is created as a public body corporate and politic within the department of education. The authority shall exercise its powers as an autonomous entity, independent of the director of the department of education. (2) …
Mich. Comp. Laws § 390.1154 Powers of authority.
7.8K chars
Sec. 4. The authority has the powers necessary to carry out and effectuate the purposes of this act, including, but not limited to, the following powers: (a) The power to sue and be sued; to have a seal and alter the seal at pleasure; to have perpetual succession; to make, execut…

Mich. Comp. Laws § 390.1154a Loans to students or parents of students; purpose; rules.

0.6K chars

Sec. 4a. In addition to the powers enumerated in section 4, the authority may loan money to students or parents of students who are residents of this state to assist them to pay for the cost of the student's attendance at a degree-granting college or university located in this st…

Mich. Comp. Laws § 390.1155 Bonds; purposes; general obligation of authority; determination; resolution; requirements; issuance subject to agency financing reporting act; interest rate exchange or agreement; establishment of reserve fund.

4.9K chars

Sec. 5. (1) The authority may issue bonds in the principal amounts necessary to provide money for achieving its purposes under this act, including, but not limited to, the payment of interest on bonds of the authority, the establishment of reserves, including 1 or more reserve fu…

Mich. Comp. Laws § 390.1156 Bonds; pledge and agreement of state.

0.7K chars

Sec. 6. The state pledges and agrees with the holders of bonds issued under this act that the state shall not limit or alter the rights vested in the authority to fulfill the terms of an agreement made with the holders of the bonds, and shall not impair the rights and remedies of…

Mich. Comp. Laws § 390.1157 Bonds as investment securities.

0.6K chars

Sec. 7. The bonds of the authority are securities, in which public officers and bodies of this state, municipalities and municipal subdivisions, insurance companies and associations, persons carrying on an insurance business, banks, trust companies, savings banks and savings asso…

Mich. Comp. Laws § 390.1158 Disposition of moneys of authority; contracts with holders of bonds; audit.

1.5K chars

Sec. 8. (1) The moneys of the authority, except as otherwise authorized or provided in this section, shall be paid to the state treasurer as an agent of the authority, or a fiscal agent as approved by the state treasurer, who shall not commingle the moneys with other moneys. The …

Mich. Comp. Laws § 390.1158a Talent investment fund; creation; deposit of money and other assets; money remaining at close of fiscal year; administration; use of fund.

1.0K chars

Sec. 8a. (1) The talent investment fund is created within the state treasury. (2) The state treasurer may receive money or other assets from any source for deposit into the talent investment fund. The state treasurer shall direct the investment of the talent investment fund in ac…

Mich. Comp. Laws § 390.1159 Tax exemptions; bonds and interest coupons negotiable; registration of bonds.

0.9K chars

Sec. 9. (1) The authority shall not be required to pay taxes on property owned by the authority under this act or upon the income derived from the property. The bonds issued under this act, their transfer, and the income derived from the bonds, including a profit made on the sale…

Mich. Comp. Laws § 390.1160 Pledge by authority; lien of pledge; recording not required.

0.6K chars

Sec. 10. A pledge made by the authority shall be valid and binding from the time the pledge is made. The moneys or property pledged and thereafter received by the authority shall immediately be subject to the lien of the pledge without physical delivery or further act. The lien o…

Mich. Comp. Laws § 390.1161 Default; appointment and powers of trustee; rights of bondholders and trustee.

1.9K chars

Sec. 11. (1) If the authority defaults in the payment of principal of or interest on an issue of bonds after the issue becomes due, whether at maturity or upon call for redemption, and the default continues for 30 days, or if the authority fails or refuses to comply with this act…

Mich. Comp. Laws § 390.1162 Loans to students or parents of students; rules; basis of determining amount of loan; description of options; federally reinsured loans; variable repayment schedules; revised repayment term or schedule.

2.8K chars

Sec. 12. (1) The authority may make loans to students enrolled or to be enrolled in eligible institutions or to the parents of students out of moneys available to the authority for loans. The authority shall promulgate rules for determining the needs of the respective students an…

Mich. Comp. Laws § 390.1163 Personal liability.

0.3K chars

Sec. 13. A member of the authority or a person executing the notes, bonds, or other obligations of the authority is not personally liable for the repayment of the note, bond, or other obligation or subject to personal liability or accountability by reason of the issuance or nonis…

Mich. Comp. Laws § 390.1165 Effective date.

0.1K chars

Sec. 15. This act shall not take effect until October 1, 1975.