Sec. 17.
(1) The board shall use money in the fund only for a purpose described in section 9(1). This section is not severable from the whole of this act, and if any portion of this section is held invalid, it is the manifest intent of the legislature that this act as a whole shall be held invalid and the money remaining in the fund distributed to producers at the time and in the amounts established by the board.
(2) At least annually, a certified public accountant selected by the board shall audit the financial records of the fund. Within 30 days after completion of the audit, the certified public accountant shall give copies of the audit to the director and the other members of the board. The board shall publish an activity and financial report annually and make it available to the public on request.
History: 2003, Act 198, Imd. Eff. Nov. 10, 2003 ;-- Am. 2010, Act 300, Imd. Eff. Dec. 16, 2010
Structure Michigan Compiled Laws
Act 198 of 2003 - Farm Produce Insurance Act (285.311 - 285.331)
Section 285.311 - Short Title.
Section 285.313 - Definitions.
Section 285.315 - Farm Produce Insurance Authority; Creation; Powers, Duties, and Functions.
Section 285.318 - Conduct of Business at Public Meetings; Public Notice; Disclosure of Information.
Section 285.320 - Administrative Premium.
Section 285.323 - Administrative Premium or Producer Premium; Refund.
Section 285.325 - Claim for Reimbursement.
Section 285.327 - Use of Money; Severability; Audit.
Section 285.329 - Action by Director or Department; Defenses.
Section 285.331 - Conduct as Misdemeanor; Penalties; Enforcement Action; Costs and Expenses.