Michigan Compiled Laws
Act 316 of 1986 - Michigan Education Trust Act (390.1421 - 390.1444)
Section 390.1434 - Enforcement of Act and Contract.

Sec. 14.
State institutions of higher education, purchasers, and qualified beneficiaries may enforce this act and any contract entered into pursuant to this act in the circuit court for Ingham county.
History: 1986, Act 316, Imd. Eff. Dec. 23, 1986

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 390 - Universities and Colleges

Act 316 of 1986 - Michigan Education Trust Act (390.1421 - 390.1444)

Section 390.1421 - Short Title.

Section 390.1422 - Legislative Finding and Declaration.

Section 390.1423 - Purposes of Act and Michigan Education Trust.

Section 390.1424 - Definitions.

Section 390.1425 - Michigan Education Trust; Creation; Exercise of Powers, Duties, and Functions.

Section 390.1426 - Advance Tuition Payment Contract Generally.

Section 390.1427 - Plan a and Plan B.

Section 390.1428 - Termination of Advance Tuition Payment Contract; Refund.

Section 390.1429 - Advance Tuition Payment Fund; Creation; Placement of Payments in Fund; Division of Fund Into Separate Accounts; Assets of Trust; Priority of Expenditures; Investments; Compliance With Divestment From Terror Act.

Section 390.1430 - Board; Appointment, Qualifications, and Terms of Members; Vacancy; Deputy; Chairperson; President and Chief Executive Officer of Trust; Vice-President of Trust; Compensation; Expenses; Delegation of Functions and Authority; Quorum;...

Section 390.1431 - Additional Powers of Board.

Section 390.1432 - Accounting of Trust Generally.

Section 390.1433 - Actuarial Soundness of Trust; Ruling or Opinion Internal Revenue Service; Answer From Securities and Exchange Commission; Making Status of Request Known.

Section 390.1434 - Enforcement of Act and Contract.

Section 390.1435 - Exemption From Taxation.

Section 390.1436 - Contracting Services Necessary for Management and Operation of Trust; Instituting Programs to Ensure Full Tuition Prepayment Plans; Report to Legislature.

Section 390.1437 - Preserving, Investing, and Expending Assets of Trust.

Section 390.1438 - Prohibited Promises or Guarantees.

Section 390.1439 - Exemption of Contract From Uniform Securities Act; Sale or Transfer of Contract.

Section 390.1440 - Payments Deductible From Taxable Income.

Section 390.1441 - Liberal Construction; Powers to Be Broadly Interpreted.

Section 390.1442 - Severability.

Section 390.1443, 390.1444 - Repealed. 2004, Act 388, Imd. Eff. Oct. 12, 2004.