Michigan Compiled Laws
Act 187 of 2014 - Michigan Settlement Administration Authority Act (141.1601 - 141.1611)
Section 141.1605 - Authority; Exercise of Duties; Performance of Administrative Functions.

Sec. 5.
The authority shall exercise its duties independently of the state treasurer. Any administrative functions of the authority shall be performed under the direction and supervision of the state treasurer.
History: 2014, Act 187, Imd. Eff. June 20, 2014

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Structure Michigan Compiled Laws

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 141.1604 - Michigan Settlement Administration Authority; Creation; Authority as State Institution; Appropriation.

Section 141.1605 - Authority; Exercise of Duties; Performance of Administrative Functions.

Section 141.1606 - Board of Directors; Membership; Compensation; Travel and Expenses; Quorum; Vote; Members Subject to MCL 15.321 to 15.330 and MCL 15.301 to 15.310; Discharge of Duties.

Section 141.1607 - Settlement Administration Fund; Creation; Deposit of Money or Other Assets; Investment; Interest and Earnings; Money Remaining at Close of Fiscal Year; Expenditure.

Section 141.1608 - Disbursement to Retirement Systems; Conditions; Return of Money to Countercyclical Budget and Economic Stabilization Fund; Dissolution of Authority.

Section 141.1609 - Public and Governmental Purpose.

Section 141.1610 - State Contribution; Obligation.

Section 141.1611 - Liability.