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2006 Michigan Compiled Laws - Act 496 of 1988


UNIFIED VOLUME LIMITATION ALLOCATION ACT

Act 496 of 1988

AN ACT to provide for the allotment and allocation of the state's unified volume limitation; and to repeal certain acts and parts of acts.


History: 1988, Act 496, Eff. Mar. 30, 1989




The People of the State of Michigan enact:

DocumentDescription
Section 12.111Short title.
Section 12.112Definitions.
Section 12.113Unified volume limitation and allotment thereof; determination; publication.
Section 12.114Allotments to state and municipal issuers for allocation; reallotment; division of allotment into installments; increase in monthly installments; reserving portion of monthly allotment; pro rata reductions in monthly installments.
Section 12.115Request for allocation; attachment; notice of sale; certification of preliminary proceedings.
Section 12.116Requests for allocations; order of consideration; approval or denial; reason for denial; steps to maintain orderly application and allocation process; instances in which request may be denied; when request considered filed or received; issuer seeking allocation not in excess of unallocated unified volume limitation.
Section 12.117Allocation order; requirements; reversion; allocation not transferable between issuers; use of allocation; validity of order; request for extension.
Section 12.118Invalidation of request or allocation; notice of changed information; new request for allocation; issuance of bonds before receiving allocation or approval for amendment to allocation; cancellation of prior allocation by approval of new request.
Section 12.119Notice of delivery of issue of bonds; filing; contents; failure to file; revocation and invalidation of allocation; waiver of revocation.
Section 12.120Order for carryforward allocation; request for carryforward allocation; form; amount; priorities; election.
Section 12.121Records.
Section 12.122State or municipal issuer not authorized to issue bonds.
Section 12.123Allocations to which act applicable; ratification of allocation; revocation of allocation; formula for allocating state ceiling.
Section 12.124Repeal of § 125.1432c.

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