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Michigan Legislature
Michigan Compiled Laws Complete Through PA 93 of 2019
House: Adjourned until Wednesday, November 20, 2019 10:00:00 AM
Senate: Adjourned until Wednesday, November 20, 2019 10:00:00 AM

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Act 459 of 1982
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Act 459 of 1982

AN ACT to provide for the payment, repayment, and recovery of certain loans; to grant relief from the repayment of certain loans; to prescribe the powers and duties of certain state agencies and departments; to provide for the transfer of certain duties and documents; to establish a toxic substance loan repayment fund; and to repeal certain acts and parts of acts.

History: 1982, Act 459, Eff. Mar. 30, 1983 ;-- Am. 1986, Act 172, Imd. Eff. July 7, 1986

© 2017 Legislative Council, State of Michigan

The People of the State of Michigan enact:

Section 325.851SectionDefinitions.
Section 325.852SectionAbolition of state toxic substance loan commission.
Section 325.853SectionTransfer of loans, documents, and audited inventory to department; powers of state treasurer.
Section 325.854SectionToxic substance loan repayment fund; establishment; deposits; use of fund.
Section 325.855SectionRepayment of note of indebtedness executed under former MCL 325.831 to 325.845; schedule of repayment; assessment of interest; interest not to accumulate during suspension of repayment.
Section 325.856SectionSuspension of repayment; duration; preparation, execution, and filing of termination statements and other documents; transfer of unexpended, unencumbered, or unreserved money in fund to general fund.
Section 325.856aSectionDischarge and repayment of loan made by state toxic substance loan commission; preparation, execution, and filing of documents.
Section 325.856bSectionApplicability of MCL 325.851 to 325.856.
Section 325.857SectionRepeal of MCL 325.831 to 325.845.
Section 325.858SectionEffective date.
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