Michigan Compiled Laws
38-1969-4 - Chapter 4 (331.71...331.84)
Section 331.78 - Bonds or Notes; Negotiability.

Sec. 48.
Whether or not the notes or bonds are of such form or character as to be negotiable instruments under the uniform commercial code, the notes or bonds authorized to be issued by this act are negotiable instruments within the meaning of and for all the purposes of the uniform commercial code, subject only to the provisions of the notes or bonds for registration.
History: 1969, Act 38, Imd. Eff. July 14, 1969

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 331 - Hospitals

Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)

38-1969-4 - Chapter 4 (331.71...331.84)

Section 331.71 - Applicability of Chapter.

Section 331.72 - Bonds and Notes; Authorization; Type; Payment; Interest; Denominations; Form; Registration Privileges; Execution; Redemption; Sale; Revised Municipal Finance Act Inapplicable; Bonds and Notes Subject to Agency Financing Reporting Act...

Section 331.72a - Bond Reserve Fund; Creation; Payment Into Fund; Funding; Discretion of Authority; Uses.

Section 331.73 - Pledges and Liens; Validity; Recording.

Section 331.73a - Refunding Bonds; Issuance; Purposes.

Section 331.73b - Refunding Bonds; Resolution; Plan of Refunding; Determination; Designation of Bonds.

Section 331.73c - Refunding Bonds Issued by State Authority; Payment of Principal, Interest, and Redemption Premiums; Sources; Loan Agreement.

Section 331.73d - Refunding Bonds; Nonliability of State; Statement.

Section 331.73e - Refunding Bonds Issued by Local Authority; Payment of Principal, Interest, and Redemption Premiums; Sources; Loan Agreement; Bond, Coupon, or Indebtedness Not General Obligation or Debt.

Section 331.73f - Use of Proceeds of Refunding Bonds and of Earnings or Profits on Proceeds; Resolution.

Section 331.73g - State Treasurer or Financial Institution as Trustee for Proceeds of Refunding Bonds, Other Funds, and Investment Earnings and Profits; Purposes; Trust Agreement; Investment of Proceeds; Defeasance.

Section 331.74 - Authority Members; Persons Executing Notes or Bonds; Personal Liability.

Section 331.75 - Bond or Note Holders; Vested Rights, Impairment.

Section 331.76 - Repealed. 2002, Act 436, Imd. Eff. June 10, 2002.

Section 331.77 - Certificate of Need Required; Exception.

Section 331.77a - Bonds to Refinance Indebtedness or Refund Obligations as to Facilities Located Outside State; Determination.

Section 331.77b - Resolution Authorizing Issuance of Bonds or Notes; Determination and Consideration of Conditions.

Section 331.78 - Bonds or Notes; Negotiability.

Section 331.79 - Bonds and Notes; Legal Investments.

Section 331.80 - Tax Exemption.

Section 331.81 - Bonds and Notes; Tax Exemption, Exception.

Section 331.82 - Nondiscrimination Provision.

Section 331.83 - Construction of Act as to Powers Conferred; Purpose and Intention.

Section 331.84 - Declaration of Necessity; Liberal Construction.