Michigan Compiled Laws
346-1966-2 - Chapter 2 (125.1421...125.1449v)
Section 125.1431 - Notes and Bonds; Liability of State.

Michigan Compiled Laws

Chapter 125 - Planning, Housing, and Zoning

Act 346 of 1966 - State Housing Development Authority Act of 1966 (125.1401 - 125.1499c)

346-1966-2 - Chapter 2 (125.1421...125.1449v)

Section 125.1421 - Michigan State Housing Development Authority; Creation; Composition; Appointment, Qualifications, and Terms of Members; Vacancy; Expenses; Certificate of Appointment or Reappointment; Designated Resident Members; Powers Vested in M...

Section 125.1422 - Powers of Authority.

Section 125.1422a - Rehabilitation of Residential Real or Rental Property; Loans, Grants, or Deferred Payment Loans to Persons and Families of Low and Moderate Income; Loans to Persons in Areas of Chronic Economic Stress and to Persons Located Elsewh...

Section 125.1422b - Designation of Authority as Housing Credit Agency; Purpose; Amount of Housing Credit Ceiling; Qualification of Applicant; Allocation Plan; Distribution; Setting Aside Allocable Amounts; Reapportionment of Unallocated Credit Amount...

Section 125.1422c - Subsidiary Nonprofit Housing Corporation.

Section 125.1422d - Investments.

Section 125.1423 - Housing Development Fund; Creation; Payments Into Fund.

Section 125.1424 - Housing Development Fund; Advances; Grants; Transfer of Moneys.

Section 125.1424a - Land Acquisition and Development Fund; Creation; Payment of Moneys Into Fund.

Section 125.1424b - Land Acquisition and Development Fund; Use of Moneys; Acquisition and Exchange of Real Property; Improvements to Real Property; Costs; Conveyance of Real Property.

Section 125.1424c - Transfer of Moneys to Housing Development Fund or Rehabilitation Fund.

Section 125.1424d - Rehabilitation Fund; Creation; Jurisdiction; Payments.

Section 125.1424e - Rehabilitation Fund; Use of Moneys; Allocations or Pledges to Holders of Bonds.

Section 125.1424f - Recapture Tax Fund; Creation; Establishment; Payment; Use.

Section 125.1424g - Repealed. 1985, Act 183, Imd. Eff. Dec. 18, 1985.

Section 125.1425 - Bonds and Notes; Issuance; Purposes; Issuing Renewal Notes, Bonds to Pay Notes and Refunding Bonds; Notes or Bonds as General Obligations and Negotiable Instruments; Revised Municipal Finance Act Inapplicable; Issuance Subject to A...

Section 125.1426 - Bonds and Notes; Authorization; Terms.

Section 125.1427 - Notes or Bonds; Resolution Authorizing Issuance; Contents.

Section 125.1428 - Notes and Bonds; Validity and Effect of Pledge.

Section 125.1429 - Notes and Bonds; Personal Liability of Members of Authority.

Section 125.1430 - Notes and Bonds; Purchase for Cancellation; Price.

Section 125.1431 - Notes and Bonds; Liability of State.

Section 125.1432 - Capital Reserve Fund; Definitions; Federal Housing Subsidy Programs; Recommendations; Priority; Program of Loans for Mobile Homes; Program of Loans for Consumer Housing Cooperatives; Notice of Public Hearing or Proposed Rule Change...

Section 125.1432a - Issuance of Bonds to Finance Single Family Homes; Previous Ownership Interest; Publicizing Program; Report to Legislature; Section Inapplicable to Refinancing Single Family Homes.

Section 125.1432b - Mortgage Credit Certificate Program; Authority Designated as Administrator; Guidelines; Qualifying for Receipt of Mortgage Credit Certificate; Adaptation of Property for Use by Disabled Individuals; Family Income Limits; Applicabi...

Section 125.1432c - Repealed. 1988, Act 496, Eff. Mar. 30, 1989.

Section 125.1432d - Legislative Intent.

Section 125.1433 - General Reserve Fund; Creation; Payments Into Fund; Use of Fund.

Section 125.1434 - Notes and Bonds; Pledge and Agreement of State.

Section 125.1435 - Trustee; Default; Powers and Duties.

Section 125.1436 - Trustee; Additional Powers.

Section 125.1437 - Venue.

Section 125.1438 - Notes and Bonds; Notice; Declaration, Due and Payable.

Section 125.1439 - Money of Authority; Deposit; Security for Deposits; Contracts With Holders of Notes or Bonds; Security for Money Held in Trust; System of Accounts; Spending for Operating Purposes; Periodic Audits; Copies.

Section 125.1440 - Notes and Bonds; Legal Investment.

Section 125.1441 - Faith and Credit Bonds.

Section 125.1442 - Property of Authority; Exempt From Taxation.

Section 125.1443 - Notes and Bonds; Exemption From Taxation.

Section 125.1443a - Authorization of Covenant and Consent.

Section 125.1444 - Loans; Purposes; Conditions; Amount; Eligibility; Sales and Resales; Long-Term Financing or Refinancing; Securing and Repaying Loans; Interest Rate; Misrepresentation of Income; Loans for Newly Rehabilitated, Newly Constructed, or...

Section 125.1444a - Rehabilitation Loans, Grants, or Deferred Payment Loans; Eligibility; Secured or Unsecured Loans or Grants; Insurance; Reserve; Interest; Terms and Conditions; Rules; Persons and Families of Low and Moderate Income; Maximum Princi...

Section 125.1444b - Loans to Mortgage Lenders; Authorized Purchases and Commitments; Requirements and Conditions; Report.

Section 125.1444c - Use of Proceeds of Notes or Bonds; Qualification as Rehabilitation; Establishment of Higher Income Limits; Eligibility for Occupancy; Application; Issuance of 6-Month Commitment to Loan Funds; Limitation on Outstanding Loan Commit...

Section 125.1444d - Authorized Loans; Purpose; Criteria.

Section 125.1444e - Income Eligibility Standards Applicable to Tenant of Housing Project.

Section 125.1444f - Loan for Housing Project in Effectively Treatable Area; Demonstration of Community Support; Return on Investment.

Section 125.1444g - Enforcement of Promises or Commitments; Action to Be Brought Against Authority.

Section 125.1445 - Preference to Displaced Persons.

Section 125.1446 - Discrimination.

Section 125.1447 - Obtaining Money, Property, or Service With Intent to Defraud or Cheat; Penalty; Determination of Total Value; Prior Convictions; Prohibited Use.

Section 125.1448 - Foreclosure Procedures Applicable to Authority.

Section 125.1448a - Jurisdiction to Foreclose Mortgages and Land Contracts Held by Authority.

Section 125.1448b - Other Civil Actions.

Section 125.1448c - Bringing Amount Due Into Court Before Judgment of Sale; Dismissal of Complaint.

Section 125.1448d - Sale of Premises Pursuant to Circuit Court Order.

Section 125.1448e - Bringing Amount Due Into Court After Judgment of Sale; Stay of Proceedings; Subsequent Default.

Section 125.1448f - Public Sale of Land by County Clerk, Deputy County Clerk, or Other Authorized Person; Hours; Location; Sale Subject to MCL 600.6091.

Section 125.1448g - Deed of Sale; Execution; Operation; Right, Title, and Interest Vested in Grantee; Recordation; Redemption of Premises.

Section 125.1448h - Sale Proceeds; Application to Discharge of Debt; Surplus; Interest.

Section 125.1448i - Redemption of Premises; Effect on Deed of Sale; Affidavit.

Section 125.1448j - Adding Property Tax and Insurance Premium Payments Made After Foreclosure to Amount Due in Judgment; Determination of Additional Liability; Affidavits; Receipt; Redemption.

Section 125.1448k - Personal Liability on Land Contract or for Mortgage Debt; Original Judgment; Deficiency; Delivery of Premises to Purchaser; Order.

Section 125.1448l - Forfeiture, Foreclosure, or Specific Performance Proceedings; Minimum Price.

Section 125.1448m - Land Contract or Mortgage Debt Secured by Evidence of Debt of Person Other Than Vendee or Mortgagor; Party; Court Order.

Section 125.1448n - Sale of Premises; Default Subsequent to Judgment.

Section 125.1448o - Action to Discharge Mortgage or Land Contract; Judgment Entered by Court; Contents; Minutes; Delivery of Judgment to Authority; Recordation of Judgment.

Section 125.1448p - Equitable Actions.

Section 125.1449 - Foreclosure by Advertisement.

Section 125.1449a - Right of Authority to Give Notice and Make Foreclosure; Conditions; Mortgage Securing Payment of Money by Installments; Installment as Separate and Independent Mortgage; Foreclosure and Redemption.

Section 125.1449b - Notice of Sale; Publication; Posting Copy of Notice Upon Premises.

Section 125.1449c - Notice of Sale; Contents.

Section 125.1449d - Sale of Premises at Public Sale; Hours; Location; Appointed Person; Highest Bidder.

Section 125.1449e - Adjournment of Sale; Request; Notice; Oral Announcement Unnecessary.

Section 125.1449f - Sale of Distinct Farms, Tracts, or Lots Separately or Together.

Section 125.1449g - Purchase of Premises by Authority or Its Successor or Assign Permitted.

Section 125.1449h - Deed; Execution, Acknowledgment, and Delivery by Officer or Person Making Sale; Separate Deeds Where Lands Situated in Several Counties; Endorsement, Recordation, and Indexation of Deed by Register of Deeds; Redemption.

Section 125.1449i - Deed; Right, Title, and Interest Vested in Grantee; Record of Deed Valid Without Re-Recordation; Effect of Sale on Valid Subsisting Lien Created Before Mortgage Lien Took Effect.

Section 125.1449j - Redemption of Premises; Payment of Taxes or Insurance Premiums; Redemption Period; Fees or Charges.

Section 125.1449k - Abandonment of Premises; Presumption.

Section 125.1449l - Payment of Entire Sum Bid at Sale, Interest, and Fee, or Delivery of Certificate of Payment to Register; Destruction of Deed; Memoranda.

Section 125.1449m - Refusal to Make and Acknowledge Certificate of Payment; Liability; Damages; Civil Action.

Section 125.1449n - Disposition of Surplus Money Remaining After Sale of Real Estate.

Section 125.1449o - Perpetuating Evidence of Sale; Affidavit; Endorsement Upon or Annexation to Instrument; References.

Section 125.1449p - Taking and Certifying Affidavits.

Section 125.1449q - Recording Affidavits; Presumptive Evidence of Facts.

Section 125.1449r - Note Recording Evidence of Sale to Be Made in Margin of Mortgage Record.

Section 125.1449s - Notice of Payment to Purchaser, Agent, or Attorney.

Section 125.1449t - Right to Enter Mortgaged Premises to Post or Serve Notices.

Section 125.1449u - Action to Recover Deficiency Judgment Against Mortgagor; Defense; Applicability of Section.

Section 125.1449v - Foreclosure Against Residential Property Not Exceeding 4 Units and Not More Than 3 Acres; Applicability of Section.