Michigan Compiled Laws
Act 222 of 1975 - Higher Education Loan Authority Act (390.1151 - 390.1165)
Section 390.1164 - Repealed. 1976, Act 163, Imd. Eff. June 21, 1976.

Compiler's Notes: The repealed section provided for an advisory opinion as to constitutionality.

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 390 - Universities and Colleges

Act 222 of 1975 - Higher Education Loan Authority Act (390.1151 - 390.1165)

Section 390.1151 - Short Title.

Section 390.1152 - Definitions.

Section 390.1153 - Authority; Creation; Autonomous Entity; Members; Terms; Quorum; Action by Authority; Meetings.

Section 390.1154 - Powers of Authority.

Section 390.1154a - Loans to Students or Parents of Students; Purpose; Rules.

Section 390.1155 - Bonds; Purposes; General Obligation of Authority; Determination; Resolution; Requirements; Issuance Subject to Agency Financing Reporting Act; Interest Rate Exchange or Agreement; Establishment of Reserve Fund.

Section 390.1156 - Bonds; Pledge and Agreement of State.

Section 390.1157 - Bonds as Investment Securities.

Section 390.1158 - Disposition of Moneys of Authority; Contracts With Holders of Bonds; Audit.

Section 390.1158a - Talent Investment Fund; Creation; Deposit of Money and Other Assets; Money Remaining at Close of Fiscal Year; Administration; Use of Fund.

Section 390.1159 - Tax Exemptions; Bonds and Interest Coupons Negotiable; Registration of Bonds.

Section 390.1160 - Pledge by Authority; Lien of Pledge; Recording Not Required.

Section 390.1161 - Default; Appointment and Powers of Trustee; Rights of Bondholders and Trustee.

Section 390.1162 - Loans to Students or Parents of Students; Rules; Basis of Determining Amount of Loan; Description of Options; Federally Reinsured Loans; Variable Repayment Schedules; Revised Repayment Term or Schedule.

Section 390.1163 - Personal Liability.

Section 390.1164 - Repealed. 1976, Act 163, Imd. Eff. June 21, 1976.

Section 390.1165 - Effective Date.