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Section 285.251 - Short Title. - Sec. 1. This act shall be known and may be...
Section 285.252 - Definitions; Rules. - Sec. 2. (1) As used in this act: (a) "Agricultural...
Section 285.253 - Michigan Family Farm Development Authority; Creation; Purpose; Appointment, Qualifications, and Terms of Members; Expenses; Certificate of Appointment or Reappointment; Powers; Actions by Authority; Quorum; Findings of Fact; Conduct... - Sec. 3. (1) The Michigan family farm development authority is...
Section 285.254 - Performance of Duties, Implementation of Powers, and Selection of Programs and Projects; Principles. - Sec. 4. In the performance of its duties, the implementation...
Section 285.255 - Powers of Authority Generally. - Sec. 5. The authority shall possess all powers necessary or...
Section 285.256 - Annual Report. - Sec. 6. (1) The authority shall submit to the governor,...
Section 285.257 - Use of Surplus Money. - Sec. 7. Money declared by the authority to be surplus...
Section 285.258 - Combining Program With Other State or Federal Programs. - Sec. 8. A program authorized by this act may be...
Section 285.259 - Beginning Farmer Loan Program; Development; Exercise of Powers by Authority; Participation in Federal and State Programs; Requirements for Providing Loan to Beginning Farmer; Acceleration of Loan; Assumption of Mortgage; Transfer of... - Sec. 9. (1) The authority shall develop a beginning farmer...
Section 285.260 - Making, Purchasing, or Participating in Loans, Grants, or Deferred Payment Loans to Beginning Farmers; Secured or Unsecured Loans and Grants; Insurance; Interest Rate; Terms and Conditions; Rules. - Sec. 10. (1) The authority may make, purchase, or participate...
Section 285.261 - Loans to Mortgage Lenders; Requirements and Conditions. - Sec. 11. (1) The authority may make and contract to...
Section 285.262 - Purchasing Mortgage or Secured Loans From Mortgage Lenders; Commitment to Purchase; Requirements and Conditions. - Sec. 12. (1) The authority may purchase and make advance...
Section 285.263 - Bonds and Notes; General Obligations; Negotiability; Issuance Subject to Agency Financing Reporting Act. - Sec. 13. (1) The authority may issue its negotiable bonds...
Section 285.264 - Bonds and Notes; Authorization; Requirements; Sale. - Sec. 14. The notes and bonds shall be authorized by...
Section 285.265 - Resolution Authorizing Notes or Bonds; Provisions. - Sec. 15. A resolution authorizing notes or bonds or an...
Section 285.266 - Pledge by Authority; Validity; Lien; Recording of Resolution or Instrument Not Required. - Sec. 16. Any pledge made by the authority shall be...
Section 285.267 - Personal Liability on Note or Bond of Authority. - Sec. 17. The members of the authority or a person...
Section 285.268 - Purchase and Cancellation of Notes or Bonds by Authority; Price. - Sec. 18. The authority, subject to the agreements with noteholders...
Section 285.269 - Nonliability of State on Notes or Bonds of Authority; Statement. - Sec. 19. The state shall not be liable on notes...
Section 285.270 - Capital Reserve Funds. - Sec. 20. (1) The authority shall create and establish 1...
Section 285.271 - General Reserve Fund. - Sec. 21. The authority shall create and establish a special...
Section 285.272 - Pledge and Agreement of State With Holders of Notes or Bonds. - Sec. 22. The state pledges and agrees with the holders...
Section 285.273 - Default by Authority; Appointment and Powers of Trustee; Notice by Trustee. - Sec. 23. (1) If the authority defaults in the payment...
Section 285.274 - Depositing Money of Authority in Bank or Savings and Loan Association; Security; Contracting With Holders of Notes or Bonds for Certain Purposes; System of Accounts; Operating Expenditures; Audit. - Sec. 24. (1) All money of the authority shall be...
Section 285.275 - Notes and Bonds of Authority as Securities; Investment. - Sec. 25. The notes and bonds of the authority are...
Section 285.276 - Recommending Issuance of Faith and Credit Bonds to Legislature. - Sec. 26. The authority from time to time at its...
Section 285.277 - Tax Exemptions. - Sec. 27. The property of the authority and its income...
Section 285.278 - Covenant by State With Purchasers, Holders, and Transferees of Notes and Bonds Concerning Tax Exemptions. - Sec. 28. The state covenants with the purchasers and all...
Section 285.279 - Prohibited Conduct; Violation; Penalties; Determination of Total Value; Prior Convictions; “Proceeds” Defined; Prohibition. - Sec. 29. (1) A person shall not, with the intent...