There is a newer version of the Michigan Compiled Laws
2011 Michigan Compiled Laws
Chapter 141 — MUNICIPAL FINANCING
Act 4 of 2011 — LOCAL GOVERNMENT AND SCHOOL DISTRICT FISCAL ACCOUNTABILITY ACT (141.1501 - 141.1531)
- Section 141.1501 — Short title.
- Section 141.1503 — Determinations.
- Section 141.1505 — Definitions.
- Section 141.1512 — Preliminary review by local government state financial authority to determine financial problem; conditions; notification to local government; finding of probable stress for municipal government or school district; appointment of review team by governor; staff support; duration of appointment.
- Section 141.1513 — Review team; powers; functions; meeting with local government; report of findings to governor; conclusions; appointment of individual or firm to carry out review and submit report.
- Section 141.1514 — Condition of no financial stress or mild financial stress; condition of severe financial stress; conditions; condition of financial emergency; conditions.
- Section 141.1514a — Consent agreement; continuing operations plan; form; approval; compliance reports; recovery plan; annual updates; terms and provisions; appointment of local auditor or inspector; effect on budget and general appropriations ordinance; grant of certain powers to local government officers; retention of consultant; release from requirements.
- Section 141.1515 — Determination by governor; finding of financial emergency; notification; appeal; confirmation of finding; declaration of receivership; appointment of emergency manager; powers; provisions; appointment of additional staff; quarterly reports; duration of appointment; removal of local government from receivership; delegation of governor's duties to state treasurer.
- Section 141.1515a — State laws applicable to emergency manager.
- Section 141.1516 — Powers and duties of emergency financial manager appointed under other state laws.
- Section 141.1517 — Issuance of orders.
- Section 141.1518 — Financial and operating plan for local government; development or amendment by emergency manager; provisions; submission; modification; form; conduct of public information meeting.
- Section 141.1519 — Additional actions by emergency manager; authority of chief administrative officer and governing body; suspension; contracts; sale or transfer of public utility.
- Section 141.1519a — Compensation of chief administrative officer and members of local governing body during receivership.
- Section 141.1520 — School district in receivership; additional actions.
- Section 141.1520a — Sale of asset worth more than $50,000.00.
- Section 141.1520b — Collective bargaining agreement authorizing benefit payment upon death of police officer or firefighter.
- Section 141.1521 — Criminal conduct contributing to receivership status.
- Section 141.1522 — Report; contents; submissions.
- Section 141.1523 — Recommendation to proceed under title 11 of United States Code.
- Section 141.1524 — Declaration that financial emergency rectified.
- Section 141.1525 — Emergency manager; immunity from liability; costs; insurance; legal expenses.
- Section 141.1526 — Duty of local elected and appointed officials and employees to provide assistance and information; failure to comply; removal from office; vacancy.
- Section 141.1527 — Adoption and implementation of 2-year budget.
- Section 141.1528 — Imposition of taxes; prohibition.
- Section 141.1529 — Issuance of bulletins; adoption of rules.
- Section 141.1530 — Emergency financial manager appointed and serving prior to effective date of act.
- Section 141.1531 — Severability of act provisions.
Disclaimer: These codes may not be the most recent version. Michigan may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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