There is a newer version of the Michigan Compiled Laws
2014 Michigan Compiled Laws
Chapter 390 - UNIVERSITIES AND COLLEGES
Act 222 of 1975 HIGHER EDUCATION LOAN AUTHORITY ACT (390.1151 - 390.1165)
- Section 390.1151 Short title.
- Section 390.1152 Definitions.
- Section 390.1153 Authority; creation; autonomous entity; members; terms; quorum; action by authority; meetings.
- Section 390.1154 Powers of authority.
- Section 390.1154a Loans to students or parents of students; purpose; rules.
- Section 390.1155 Bonds; purposes; general obligation of authority; determination; resolution; requirements; issuance subject to agency financing reporting act; interest rate exchange or agreement; establishment of reserve fund.
- Section 390.1156 Bonds; pledge and agreement of state.
- Section 390.1157 Bonds as investment securities.
- Section 390.1158 Disposition of moneys of authority; contracts with holders of bonds; audit.
- Section 390.1159 Tax exemptions; bonds and interest coupons negotiable; registration of bonds.
- Section 390.1160 Pledge by authority; lien of pledge; recording not required.
- Section 390.1161 Default; appointment and powers of trustee; rights of bondholders and trustee.
- Section 390.1162 Loans to students or parents of students; rules; basis of determining amount of loan; description of options; federally reinsured loans; variable repayment schedules; revised repayment term or schedule.
- Section 390.1163 Personal liability.
- Section 390.1164 Repealed. 1976, Act 163, Imd. Eff. June 21, 1976.
- Section 390.1165 Effective date.
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