Michigan Compiled Laws
Chapter 141 - Municipal Financing
Act 187 of 2014 - Michigan Settlement Administration Authority Act (141.1601 - 141.1611)

Section 141.1601 - Short Title. - Sec. 1. This act shall be known and may be...

Section 141.1602 - Legislative Findings and Declarations. - Sec. 2. The legislature finds and declares the following: (a)...

Section 141.1603 - Definitions. - Sec. 3. As used in this act: (a) "Authority" means...

Section 141.1604 - Michigan Settlement Administration Authority; Creation; Authority as State Institution; Appropriation. - Sec. 4. (1) The Michigan settlement administration authority is created...

Section 141.1605 - Authority; Exercise of Duties; Performance of Administrative Functions. - Sec. 5. The authority shall exercise its duties independently of...

Section 141.1606 - Board of Directors; Membership; Compensation; Travel and Expenses; Quorum; Vote; Members Subject to MCL 15.321 to 15.330 and MCL 15.301 to 15.310; Discharge of Duties. - Sec. 6. (1) The authority shall exercise its duties through...

Section 141.1607 - Settlement Administration Fund; Creation; Deposit of Money or Other Assets; Investment; Interest and Earnings; Money Remaining at Close of Fiscal Year; Expenditure. - Sec. 7. (1) The settlement administration fund is created within...

Section 141.1608 - Disbursement to Retirement Systems; Conditions; Return of Money to Countercyclical Budget and Economic Stabilization Fund; Dissolution of Authority. - Sec. 8. (1) The authority shall either disburse the money...

Section 141.1609 - Public and Governmental Purpose. - Sec. 9. It is determined that the creation of the...

Section 141.1610 - State Contribution; Obligation. - Sec. 10. The obligation to make this state's contribution described...

Section 141.1611 - Liability. - Sec. 11. This state, a state official or state-related entity,...