Sec. 4.
(1) The Michigan settlement administration authority is created as a public body corporate and politic within the department of treasury. The authority is a state institution within the meaning of section 9 of article II of the state constitution of 1963 and an instrumentality of this state exercising public and essential governmental functions. The exercise by the authority of the powers conferred by this act is an essential governmental function of this state.
(2) For the fiscal year ending September 30, 2014, there is appropriated $194,800,000.00 from the settlement administration fund to be used only as provided in this act.
History: 2014, Act 187, Imd. Eff. June 20, 2014
Structure Michigan Compiled Laws
Chapter 141 - Municipal Financing
Act 187 of 2014 - Michigan Settlement Administration Authority Act (141.1601 - 141.1611)
Section 141.1601 - Short Title.
Section 141.1602 - Legislative Findings and Declarations.
Section 141.1603 - Definitions.
Section 141.1605 - Authority; Exercise of Duties; Performance of Administrative Functions.
Section 141.1609 - Public and Governmental Purpose.