Sec. 21.
This act shall be construed liberally to effectuate the legislative intent, the purposes of the act, and as complete and independent authority for the performance of each and every act and thing authorized in the act, and all powers granted in the act shall be broadly interpreted to effectuate such intent and purposes and not as to limitation of powers.
History: 1986, Act 316, Imd. Eff. Dec. 23, 1986
Structure 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 390.1431 - Additional Powers of Board.
Section 390.1432 - Accounting of Trust Generally.
Section 390.1434 - Enforcement of Act and Contract.
Section 390.1435 - Exemption From Taxation.
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Section 390.1443, 390.1444 - Repealed. 2004, Act 388, Imd.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.