Michigan Compiled Laws
Chapter 141 - Municipal Financing
Act 436 of 2012 - Local Financial Stability and Choice Act (141.1541 - 141.1575)

Section 141.1541 - Short Title. - Sec. 1. This act shall be known and may be...

Section 141.1542 - Definitions. - Sec. 2. As used in this act: (a) "Chapter 9"...

Section 141.1543 - Findings; Declarations. - Sec. 3. The legislature finds and declares all of the...

Section 141.1544 - Determination of Probable Financial Stress; Preliminary Review; Conditions; School District; Notification to Local Government; Interim Report of Findings; Final Report; Finding of Probable Financial Stress; Appointment of Review Te... - Sec. 4. (1) Subject to subsection (2), the state financial...

Section 141.1545 - Review Team; Powers; Meeting With Local Government; Report; Posting on Department of Treasury's Website; Contents; Appointment of Individual or Firm to Carry Out Review and Submit Report. - Sec. 5. (1) In conducting its review, the review team...

Section 141.1546 - Determination by Governor; Opportunity for Local Government to Submit Statement; Determination of Financial Emergency; Notification; Hearing; Findings of Fact by Governor; Report; Resolution by Local Government to Appeal Determinat... - Sec. 6. (1) Within 10 days after receipt of the...

Section 141.1547 - Local Government Options; Approval of Resolution by Mayor or School Board; Failure of Local Governing Body to Pass Resolution; Limitation. - Sec. 7. (1) Notwithstanding section 6(3), upon the confirmation of...

Section 141.1547a - School District Subject to Enhanced Deficit Elimination Plan; Determination by State Treasurer; Declaration of Financial Emergency; Appointment of Emergency Manager; Recommendation. - Sec. 7a. Notwithstanding section 7, if a school district is...

Section 141.1548 - Consent Agreement; Negotiation and Signature; Provisions; Continuing Operations Plan; Form; Amendment of Budget Adopted by Municipal Government or School District; Recovery Plan; Terms and Provisions; Powers Granted to Chief Admini... - Sec. 8. (1) The chief administrative officer of a local...

Section 141.1549 - Emergency Manager; Appointment by Governor; Powers; Qualifications; Compensation; Private Funds; Additional Staff and Assistance; Quarterly Reports; Service; Removal of Local Government From Receivership; Delegation of Duties From... - Sec. 9. (1) The governor may appoint an emergency manager...

Section 141.1550 - Orders. - Sec. 10. (1) An emergency manager shall issue to the...

Section 141.1551 - Financial and Operating Plan for Local Government; Development and Amendment by Emergency Manager; Objectives; Submission; Modification; Form; Conduct of Public Informational Meeting; Effect of Plan Adopted Under Former Law. - Sec. 11. (1) An emergency manager shall develop and may...

Section 141.1552 - Additional Actions by Emergency Manager; Suspension of Power of Administrative Officer and Governing Body; Contracts Subject to Competitive Bidding; Sale or Transfer of Public Utility; Limitation. - Sec. 12. (1) An emergency manager may take 1 or...

Section 141.1553 - Pendency of Receivership; Compensation of Chief Administrative Officer and Members of Local Governing Body. - Sec. 13. Upon appointment of an emergency manager and during...

Section 141.1554 - School District in Receivership; Additional Actions. - Sec. 14. In addition to the actions otherwise authorized in...

Section 141.1555 - Sale of Asset Worth More Than $50,000.00; Payment of Benefit Upon Death of Police Officer or Firefighter. - Sec. 15. (1) Unless the potential sale and value of...

Section 141.1556 - Criminal Conduct Contributing to Receivership Status. - Sec. 16. An emergency manager shall, on his or her...

Section 141.1557 - Report. - Sec. 17. Beginning 6 months after an emergency manager's appointment,...

Section 141.1558 - Recommendation to Proceed Under Chapter 9. - Sec. 18. (1) If, in the judgment of the emergency...

Section 141.1559 - Proposed Action; Submission to Local Governing Body; Approval or Disapproval; Alternative Proposal. - Sec. 19. (1) Except as otherwise provided in this subsection,...

Section 141.1560 - Emergency Manager; Immunity From Liability; Responsibilities of Attorney General; Costs; Insurance; Litigation Expenses After Conclusion of Date of Service; Failure of Municipal Government or School District to Honor and Remit Lega... - Sec. 20. (1) An emergency manager is immune from liability...

Section 141.1561 - Adoption and Implementation of 2-Year Budget. - Sec. 21. (1) Before the termination of receivership and the...

Section 141.1562 - Determination That Financial Emergency Rectified; Actions by Governor. - Sec. 22. (1) If an emergency manager determines that the...

Section 141.1563 - Receivership Transition Advisory Board. - Sec. 23. (1) Before removing a local government from receivership,...

Section 141.1564 - Determination That Financial Conditions Not Corrected; Appointment of New Emergency Manager. - Sec. 24. The governor may, upon his or her own...

Section 141.1565 - Neutral Evaluation Process. - Sec. 25. (1) A neutral evaluation process may be utilized...

Section 141.1566 - Chapter 9 Proceeding. - Sec. 26. (1) With the written approval of the governor,...

Section 141.1567 - Duty of Local Officials and Employees to Provide Assistance and Information; Failure to Abide by Act. - Sec. 27. (1) The local elected and appointed officials and...

Section 141.1568 - Imposition of Taxes; Prohibition. - Sec. 28. This act does not give the emergency manager...

Section 141.1569 - Issuance of Bulletins; Rules. - Sec. 29. The state financial authority shall issue bulletins or...

Section 141.1570 - Actions Under Former Law. - Sec. 30. (1) All of the following actions that occurred...

Section 141.1571 - Emergency Manager Serving Prior to Effective Date of Act. - Sec. 31. An emergency manager or emergency financial manager appointed...

Section 141.1572 - Liability or Cause of Action. - Sec. 32. This act does not impose any liability or...

Section 141.1573 - Severability. - Sec. 33. If any portion of this act or the...

Section 141.1574 - Appropriation. - Sec. 34. For the fiscal year ending September 30, 2013,...

Section 141.1575 - Appropriation. - Sec. 35. (1) For the fiscal year ending September 30,...