Sec. 18.
(1) On January 1 of each year the authority shall report on its operations for the preceding fiscal year to the governor and the legislature. The report shall include a summary of the activities of the authority and a complete operating and financial statement. The report shall include, but not be limited to, information on the number, value, type of product, and destination of export transactions assisted, the type of assistance rendered for each by the authority, grants made pursuant to section 8a and the results of those activities, trade shows attended, trade missions led, and any other information considered necessary for a competent evaluation or the authority's effectiveness.
(2) The authority shall be subject to examination by the state treasurer. The accounts of the authority shall be audited by the state auditor general or a certified public accountant appointed by the auditor general.
History: 1986, Act 157, Imd. Eff. July 7, 1986 ;-- Am. 1990, Act 304, Imd. Eff. Dec. 14, 1990 Compiler's Notes: In the last sentence of subsection (1), the phrase “evaluation or the authority's effectiveness” evidently should read “evaluation of the authority's effectiveness.
Structure Michigan Compiled Laws
Act 157 of 1986 - Michigan Export Development Act (447.151 - 447.168)
Section 447.151 - Short Title.
Section 447.152 - Definitions.
Section 447.157 - Powers of Authority Generally.
Section 447.158a - Grant to Non-Profit Organization; Purposes.
Section 447.159 - Bonds Generally.
Section 447.160 - Bonds and Notes Generally.
Section 447.161 - Bonds or Security Agreement; Resolution; Trustee or Depository.
Section 447.162 - Bonds; Refunding.
Section 447.164 - Tax Exemptions Generally.
Section 447.165 - Additional Tax Exemptions.
Section 447.166 - Insurance Fund; Insurance Pledged as Security.
Section 447.168 - Annual Report; Contents; Examination; Audit.