2006 Michigan Compiled Laws - Act 289 of 1976


Act 289 of 1976

AN ACT to implement, clarify, and confirm the constitutional powers of the bodies corporate controlling those institutions of higher education named in sections 4, 5, and 6 of article 8 of the state constitution of 1963, or established by law as therein provided, regarding the establishment and financing of student loan programs.

History: 1976, Act 289, Imd. Eff. Oct. 25, 1976

The People of the State of Michigan enact:

Section 390.1351Definitions.
Section 390.1352§§ 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.
Section 390.1353Methods of making student loan.
Section 390.1354Financing of student loan program; bonds or notes generally; capital cost.
Section 390.1355Notes or bonds as negotiable instruments.
Section 390.1356Bonds, notes, or contracts neither evidence of state indebtedness nor grant of state credit; payment of bonds, notes, or contracts.

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