2017 Michigan Compiled Laws
Chapter 338 - Professions and Occupations
Act 152 of 1979 STATE LICENSE FEE ACT (338.2201 - 338.2277)
Section 338.2203 Licensing and regulation fund; creation; requirements.
Sec. 3.
The licensing and regulation fund is created in the state treasury. All of the following apply to the licensing and regulation fund:
(a) Except as otherwise provided in sections 11, 37, 38, and 39, the fees collected under this act shall be deposited into the fund.
(b) Money in the fund shall be used only to offset the cost of operating the department.
(c) The state treasurer shall direct the investment of the fund and shall credit to the fund interest and earnings from fund investments.
(d) Money in the fund at the close of the fiscal year shall remain in the fund and shall not lapse to the general fund.
(e) The department is the administrator of the fund for auditing purposes.
History: 1979, Act 152, Eff. Jan. 1, 1980 ;-- Am. 1988, Act 461, Eff. Sept. 1, 1989 ;-- Am. 1990, Act 268, Imd. Eff. Oct. 17, 1990 ;-- Am. 1993, Act 139, Imd. Eff. Aug. 2, 1993 ;-- Am. 2006, Act 645, Imd. Eff. Jan. 5, 2007 ;-- Am. 2007, Act 77, Imd. Eff. Sept. 30, 2007 ;-- Am. 2012, Act 308, Imd. Eff. Oct. 1, 2012
