16 chapters · 239 sections in this title.
Mich. Comp. Laws § 484.3218 Default.
1.7K chars
Sec. 18. (1) If the authority defaults in the payment of principal or interest of any notes or bonds when due, whether at maturity or upon call for redemption, and the default continues for a period of 30 days, or if the authority fails or refuses to comply with this act, or defa…
Mich. Comp. Laws § 484.3219 Disposition of money held by authority.
0.9K chars
Sec. 19. (1) Money of the authority shall be held by the authority and deposited in a financial institution approved by the state treasurer, which financial institution may give security for the deposits. (2) The authority may, subject to the approval of the state treasurer, cont…
Mich. Comp. Laws § 484.3220 Notes and bonds as securities; investment.
0.6K chars
Sec. 20. The notes and bonds of the authority are securities in which public officers and bodies of this state and municipalities and municipal subdivisions, insurance companies and associations and other persons carrying on an insurance business, banks, trust companies, savings …
Mich. Comp. Laws § 484.3221 Full faith and credit bonds; issuance; vote.
0.1K chars
Sec. 21. The authority, at its discretion, may recommend an issuance of full faith and credit bonds to the legislature for a vote of the people.