There is a newer version of the Michigan Compiled Laws
2015 Michigan Compiled Laws
Chapter 447 - Foreign Trade
Act 157 of 1986 MICHIGAN EXPORT DEVELOPMENT ACT (447.151 - 447.168)
AN ACT to help stimulate the expansion of international export markets of state products and services; to provide for the creation of the Michigan export development authority and to establish its board of directors; to prescribe the powers and duties of the authority and of the board; to provide for the issuance of, and certain terms and conditions of, bonds; to exempt bonds from certain taxes; to prescribe the powers and duties of certain state officers; and to provide for the creation of certain funds and for the funding of the creation and operation of the authority.
History: 1986, Act 157, Imd. Eff. July 7, 1986
- Section 447.151 Short title.
- Section 447.152 Definitions.
- Section 447.153 Michigan export development authority; creation; budgeting, procurement, and related functions; purpose of authority.
- Section 447.154 Board of directors; appointment, qualifications, and terms of members; vacancy; oath or affirmation; reimbursement for expenses; election of chairperson, vice-chairperson, secretary, and other officers; quorum; majority vote sufficient for action; vote necessary for bonds.
- Section 447.155 Effect of vacancy in membership of board; authorization and effective date of action by board; delegation of powers and duties; liability or accountability on contract, commitment, or agreement; liability for damage or injury; indemnification of board members and staff officers; appointment of employees to unclassified positions; terms.
- Section 447.156 Conducting business at public meeting; notice; availability of writings to public; confidentiality.
- Section 447.157 Powers of authority generally.
- Section 447.158 Guarantee or export insurance for eligible export transaction; requirements; fees; determinations; condition to provision of guarantee or export insurance.
- Section 447.158a Grant to non-profit organization; purposes.
- Section 447.159 Bonds generally.
- Section 447.160 Bonds and notes generally.
- Section 447.161 Bonds or security agreement; resolution; trustee or depository.
- Section 447.162 Bonds; refunding.
- Section 447.163 Proceeds from sale of bonds; application; export development bond fund as separate fund; investments and earnings.
- Section 447.164 Tax exemptions generally.
- Section 447.165 Additional tax exemptions.
- Section 447.166 Insurance fund; insurance pledged as security.
- Section 447.167 Bonds, debentures, notes, or other evidence of indebtedness as securities; investment; deposit.
- Section 447.168 Annual report; contents; examination; audit.
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