Sec. 9.
(1) Except for the pharmaceutical products fund, any assets that have not been conveyed on or before the expiration of the life of the commission shall be transferred to the department of management and budget or any other state executive department, as the state administrative board may direct.
(2) Not less than 90 days after the conveyance of assets and liabilities is completed under this act, the state administrative board shall make a report in writing to the legislature of the terms of the conveyance.
History: 1996, Act 522, Imd. Eff. Jan. 13, 1997
Structure Michigan Compiled Laws
Act 522 of 1996 - The Michigan Biologic Products Institute Transfer Act (333.26331 - 333.26340)
Section 333.26331 - Short Title.
Section 333.26332 - Legislative Findings and Declarations.
Section 333.26333 - Definitions.
Section 333.26334 - Michigan Biologic Products Commission; Conveyance of Assets; Powers and Rights.
Section 333.26335 - State Administrative Board; Powers and Duties.
Section 333.26336b - Total State Spending; Spending to Local Units of Government.
Section 333.26336c - Contingency Funds.
Section 333.26338 - Conveyance of Assets; Liens, Claims, or Interests.