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2006 Michigan Compiled Laws - CHAPTER 1 GENERAL PROVISIONS (124.751...124.774)

LAND BANK FAST TRACK ACT (EXCERPT)
Act 258 of 2003
Chapter 1
GENERAL PROVISIONS

DocumentDescription
Section 124.751Short title.
Section 124.752Legislative findings.
Section 124.753Definitions.
Section 124.754Powers.
Section 124.755Acquisition of property; accepting deed in lieu of foreclosure or sale; release of tax lien.
Section 124.756Preservation of property value.
Section 124.757Disposition of property by authority; inventory and classification of property; title status and suitability for use; recording property transfer.
Section 124.758Receipt of tax, penalty, or interest payments; return to local tax collecting unit; retention of proceeds.
Section 124.759Expedited quiet title and foreclosure action; procedure.
Section 124.760Property as site of environmental contamination; information to be provided to department of environmental quality; property subject to certain conditions; liability.
Section 124.761Waste of or unlawful removal of property; restraining order.
Section 124.762Authority as party to civil action.
Section 124.763Property of authority as public property.
Section 124.764Construction, intent, and scope of act.
Section 124.765Land bank fast track authority; creation; powers and duties; staffing; cooperation with state departments and agencies.
Section 124.766Board of directors; membership; appointment; terms; oath; removal; vacancy; election of chairperson and vice-chairperson; designation of representative; discharge of duties.
Section 124.767Executive director; appointment; eligibility; oath; duties.
Section 124.768Land bank fast track fund; creation; receipt of money or other assets; money remaining in fund; expenditures; disposition of proceeds.
Section 124.769Borrowing money and issuing bonds or notes.
Section 124.770Transfer of property from state administrative board.
Section 124.771Dissolution of authority.
Section 124.772Biennial report.
Section 124.773Intergovernmental agreements.
Section 124.774Authority created under MCL 124.773; borrowing money and issuing bonds or notes.

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