Michigan Compiled Laws
Act 436 of 2012 - Local Financial Stability and Choice Act (141.1541 - 141.1575)
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 subject to an enhanced deficit elimination plan under section 1220 of the revised school code, 1976 PA 451, MCL 380.1220, and the state treasurer determines that the school district has failed to submit or comply with the requirements of the enhanced deficit elimination plan, the state treasurer may declare that a financial emergency exists within the school district and recommend that the governor appoint an emergency manager to address the financial emergency within the school district under section 9.
History: Add. 2015, Act 113, Imd. Eff. July 7, 2015

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Structure Michigan Compiled Laws

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.

Section 141.1542 - Definitions.

Section 141.1543 - Findings; Declarations.

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...

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.

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...

Section 141.1547 - Local Government Options; Approval of Resolution by Mayor or School Board; Failure of Local Governing Body to Pass Resolution; Limitation.

Section 141.1547a - School District Subject to Enhanced Deficit Elimination Plan; Determination by State Treasurer; Declaration of Financial Emergency; Appointment of Emergency Manager; Recommendation.

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...

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...

Section 141.1550 - Orders.

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.

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.

Section 141.1553 - Pendency of Receivership; Compensation of Chief Administrative Officer and Members of Local Governing Body.

Section 141.1554 - School District in Receivership; Additional Actions.

Section 141.1555 - Sale of Asset Worth More Than $50,000.00; Payment of Benefit Upon Death of Police Officer or Firefighter.

Section 141.1556 - Criminal Conduct Contributing to Receivership Status.

Section 141.1557 - Report.

Section 141.1558 - Recommendation to Proceed Under Chapter 9.

Section 141.1559 - Proposed Action; Submission to Local Governing Body; Approval or Disapproval; Alternative Proposal.

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...

Section 141.1561 - Adoption and Implementation of 2-Year Budget.

Section 141.1562 - Determination That Financial Emergency Rectified; Actions by Governor.

Section 141.1563 - Receivership Transition Advisory Board.

Section 141.1564 - Determination That Financial Conditions Not Corrected; Appointment of New Emergency Manager.

Section 141.1565 - Neutral Evaluation Process.

Section 141.1566 - Chapter 9 Proceeding.

Section 141.1567 - Duty of Local Officials and Employees to Provide Assistance and Information; Failure to Abide by Act.

Section 141.1568 - Imposition of Taxes; Prohibition.

Section 141.1569 - Issuance of Bulletins; Rules.

Section 141.1570 - Actions Under Former Law.

Section 141.1571 - Emergency Manager Serving Prior to Effective Date of Act.

Section 141.1572 - Liability or Cause of Action.

Section 141.1573 - Severability.

Section 141.1574 - Appropriation.

Section 141.1575 - Appropriation.