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2006 Michigan Compiled Laws - Act 77 of 1960


MICHIGAN HIGHER EDUCATION ASSISTANCE AUTHORITY

Act 77 of 1960

AN ACT to create the Michigan higher education assistance authority and to prescribe its powers and duties; to authorize persons, corporations, and associations to make gifts to the authority; to prescribe the powers and duties of certain state officials; to authorize, ratify, and confirm certain guarantees of students' loans and authorize reguarantees; to authorize, ratify, and confirm certain guarantees of loans made to parents of students; to validate certain prior appropriations; and to authorize the transfer of certain appropriations to be transferred to and administered by the authority.


History: 1960, Act 77, Imd. Eff. Apr. 25, 1960 ;--Am. 1974, Act 19, Imd. Eff. Feb. 15, 1974 ;--Am. 1981, Act 29, Eff. July 1, 1981 ;--Am. 1989, Act 128, Imd. Eff. June 28, 1989




The People of the State of Michigan enact:

DocumentDescription
Section 390.951Michigan higher education assistance authority; creation.
Section 390.952Appointment and qualifications of members of authority.
Section 390.953Higher education assistance authority; term of office, removal.
Section 390.954Higher education assistance authority; vacancies, appointment, removal.
Section 390.955Quorum; rules.
Section 390.955aConducting business at public meeting; notice.
Section 390.956Higher education assistance authority; compensation, expenses.
Section 390.957Powers of authority.
Section 390.958Loans to minors.
Section 390.959Higher education assistance authority; gift tax, deductible.
Section 390.960Supervision and examination of authority; authority not banking organization; annual report.
Section 390.961Guarantees of loans; appropriations to guaranty fund; guarantees of parent loans; authorization, ratification, and confirmation.

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