Michigan Compiled Laws
Act 258 of 2003 - Land Bank Fast Track Act (124.751 - 124.774)
258-2003-1 - Chapter 1 General Provisions (124.751...124.774)

Section 124.751 - Short Title. - Sec. 1. This act shall be known and may be...

Section 124.752 - Legislative Findings. - Sec. 2. The legislature finds that there exists in this...

Section 124.753 - Definitions. - Sec. 3. As used in this act: (a) "Authority" means...

Section 124.754 - Powers. - Sec. 4. (1) Except as otherwise provided in this act,...

Section 124.755 - Acquisition of Property; Accepting Deed in Lieu of Foreclosure or Sale; Release of Tax Lien. - Sec. 5. (1) Except as provided in section 4(8), an...

Section 124.756 - Preservation of Property Value. - Sec. 6. (1) An authority may, without the approval of...

Section 124.757 - Disposition of Property by Authority; Inventory and Classification of Property; Title Status and Suitability for Use; Recording Property Transfer. - Sec. 7. (1) Except as an authority otherwise agrees by...

Section 124.758 - Receipt of Tax, Penalty, or Interest Payments; Return to Local Tax Collecting Unit; Retention of Proceeds. - Sec. 8. (1) Money received by an authority as payment...

Section 124.759 - Expedited Quiet Title and Foreclosure Action; Procedure. - Sec. 9. (1) An authority may initiate an expedited quiet...

Section 124.760 - Property as Site of Environmental Contamination; Information to Be Provided to Department of Environmental Quality; Property Subject to Certain Conditions; Liability. - Sec. 10. (1) If an authority has reason to believe...

Section 124.761 - Waste of or Unlawful Removal of Property; Restraining Order. - Sec. 11. (1) An authority may institute a civil action...

Section 124.762 - Authority as Party to Civil Action. - Sec. 12. An authority shall be made a party to...

Section 124.763 - Property of Authority as Public Property. - Sec. 13. Property of an authority is public property devoted...

Section 124.764 - Construction, Intent, and Scope of Act. - Sec. 14. (1) This act shall be construed liberally to...

Section 124.765 - Land Bank Fast Track Authority; Creation; Powers and Duties; Staffing; Cooperation With State Departments and Agencies. - Sec. 15. (1) The land bank fast track authority is...

Section 124.766 - Board of Directors; Membership; Appointment; Terms; Oath; Removal; Vacancy; Election of Chairperson and Vice-Chairperson; Designation of Representative; Discharge of Duties. - Sec. 16. (1) The purposes, powers, and duties of the...

Section 124.767 - Executive Director; Appointment; Eligibility; Oath; Duties. - Sec. 17. The governor shall appoint a person to serve...

Section 124.768 - Land Bank Fast Track Fund; Creation; Receipt of Money or Other Assets; Transfer of Money in Urban Land Assembly Loan Fund; Loan Repayments; Money Remaining in Fund; Expenditures; Disposition of Proceeds. - Sec. 18. (1) The land bank fast track fund is...

Section 124.769 - Borrowing Money and Issuing Bonds or Notes. - Sec. 19. (1) The state authority may borrow money and...

Section 124.770 - Transfer of Property From State Administrative Board. - Sec. 20. (1) The state administrative board may transfer to...

Section 124.771 - Dissolution of Authority. - Sec. 21. If the state authority has completed the purposes...

Section 124.772 - Biennial Report. - Sec. 22. The state authority shall report biennially to the...

Section 124.773 - Intergovernmental Agreements. - Sec. 23. (1) An authority may enter into an intergovernmental...

Section 124.774 - Authority Created Under MCL 124.773; Borrowing Money and Issuing Bonds or Notes. - Sec. 24. (1) By resolution of its board, an authority...