Michigan Compiled Laws
Chapter 447 - Foreign Trade
Act 157 of 1986 - Michigan Export Development Act (447.151 - 447.168)

Section 447.151 - Short Title. - Sec. 1. This act shall be known and may be...

Section 447.152 - Definitions. - Sec. 2. As used in this act: (a) “Authority” means...

Section 447.153 - Michigan Export Development Authority; Creation; Budgeting, Procurement, and Related Functions; Purpose of Authority. - Sec. 3. (1) The Michigan export development authority is created...

Section 447.154 - Board of Directors; Appointment, Qualifications, and Terms of Members; Vacancy; Oath or Affirmation; Reimbursement for Expenses; Election of Chairperson, Vice-Chairperson, Secretary, and Other Officers; Quorum; Majority Vote Suffici... - Sec. 4. (1) The governing and administrative powers of the...

Section 447.155 - Effect of Vacancy in Membership of Board; Authorization and Effective Date of Action by Board; Delegation of Powers and Duties; Liability or Accountability on Contract, Commitment, or Agreement; Liability for Damage or Injury; Indem... - Sec. 5. (1) A vacancy in the membership of the...

Section 447.156 - Conducting Business at Public Meeting; Notice; Availability of Writings to Public; Confidentiality. - Sec. 6. (1) The business which the authority may perform...

Section 447.157 - Powers of Authority Generally. - Sec. 7. The authority shall possess all the powers of...

Section 447.158 - Guarantee or Export Insurance for Eligible Export Transaction; Requirements; Fees; Determinations; Condition to Provision of Guarantee or Export Insurance. - Sec. 8. (1) The authority may provide a guarantee or...

Section 447.158a - Grant to Non-Profit Organization; Purposes. - Sec. 8a. The authority may provide a grant to a...

Section 447.159 - Bonds Generally. - Sec. 9. The authority may issue, sell, and provide for...

Section 447.160 - Bonds and Notes Generally. - Sec. 10. (1) Bonds issued under this act may be...

Section 447.161 - Bonds or Security Agreement; Resolution; Trustee or Depository. - Sec. 11. (1) The resolution under which the bonds are...

Section 447.162 - Bonds; Refunding. - Sec. 12. (1) Bonds issued under this act and at...

Section 447.163 - Proceeds From Sale of Bonds; Application; Export Development Bond Fund as Separate Fund; Investments and Earnings. - Sec. 13. (1) The proceeds from the sale of any...

Section 447.164 - Tax Exemptions Generally. - Sec. 14. The bonds, interest on the bonds, and the...

Section 447.165 - Additional Tax Exemptions. - Sec. 15. The property of the authority and its income...

Section 447.166 - Insurance Fund; Insurance Pledged as Security. - Sec. 16. (1) The authority may create an insurance fund...

Section 447.167 - Bonds, Debentures, Notes, or Other Evidence of Indebtedness as Securities; Investment; Deposit. - Sec. 17. (1) The bonds, debentures, notes, or other evidence...

Section 447.168 - Annual Report; Contents; Examination; Audit. - Sec. 18. (1) On January 1 of each year the...