2012 Michigan Compiled Laws
Chapter 141 — MUNICIPAL FINANCING
Act 4 of 2011 — LOCAL GOVERNMENT AND SCHOOL DISTRICT FISCAL ACCOUNTABILITY ACT (141.1501 - 141.1531)***** THIS ACT IS SUSPENDED PENDING THE VOTE OF THE ELECTORS REGARDING PROPOSAL 1 AT THE NOVEMBER 2012 ELECTION *****
Section 141.1520a — Sale of asset worth more than $50,000.00.
LOCAL GOVERNMENT AND SCHOOL DISTRICT FISCAL ACCOUNTABILITY ACT (EXCERPT)
Act 4 of 2011
***** THIS SECTION IS SUSPENDED PENDING THE VOTE OF THE ELECTORS REGARDING PROPOSAL 1 AT THE NOVEMBER 2012 ELECTION *****
141.1520a Sale of asset worth more than $50,000.00.
Sec. 20a.
Unless the potential sale and value of an asset is included in the emergency manager's financial and operating plan prepared under section 18, the emergency manager shall not sell an asset of the local government valued at more than $50,000.00 without the state treasurer's approval.
History: 2011, Act 4, Imd. Eff. Mar. 16, 2011
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