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110 chapters · 499 sections in this title.
Mich. Comp. Laws § 390.1351 Definitions.
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Sec. 1. As used in this act: (a) "Board" means the body corporate controlling an institution of higher education which is named in sections 4, 5, or 6 of article 8 of the state constitution of 1963 or established by law, as therein provided. (b) "Student loan" means a loan of the…
Mich. Comp. Laws § 390.1352 MCL 141.2101 to 141.2821, 141.151 to 141.153, and 141.101 to 141.140 inapplicable to borrowing under act; purpose of act; provisions cumulative as to powers of board; bonds and notes subject to agency financing reporting act.
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Sec. 2. (1) The revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821, 1969 PA 342, MCL 141.151 to 141.153, and the revenue bond act of 1933, 1933 PA 94, MCL 141.101 to 141.140, shall not apply to any borrowing provided for in this act. This act shall implement, cla…
Mich. Comp. Laws § 390.1353 Methods of making student loan.
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Sec. 3. To financially assist a student wishing to attend the college or university governed by the board, a board may make or arrange for a loan to the student as it determines to be in need of the assistance on a nondiscriminatory basis upon the terms and provisions the board d…
Mich. Comp. Laws § 390.1354 Financing of student loan program; bonds or notes generally; capital cost.
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Sec. 4. (1) A student loan program may be financed in whole or in part under the terms and provisions the board deems best, by the issuance of notes or bonds of the board which shall be payable in not more than 18 years and payable solely out of any of the following sources: (a) …