Mich. Comp. Laws § 18.1437
This is the official text of Mich. Comp. Laws § 18.1437, part of Michigan’s Comp. Laws — part of the compiled statutory law of Michigan, published by the state as "Comp. Laws." Browse the sections below, each linked to its official government source.
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Advances to revolving fund; repayment; long term advances for acquisition of equipment; limitation.
Official statutory text
Sec. 437.
The director may make advances to any revolving fund from time to time during a fiscal year, but all of the advances shall be repaid to the fund from which advanced before the end of the fiscal year.
The director may, if approved by the board, make long term advances to the various revolving funds for the purpose of acquiring equipment. The amount of an advance made to any revolving fund shall not exceed the net book value of the assets acquired with the advance.
History: 1984, Act 431, Eff. Mar. 29, 1985
The director may make advances to any revolving fund from time to time during a fiscal year, but all of the advances shall be repaid to the fund from which advanced before the end of the fiscal year.
The director may, if approved by the board, make long term advances to the various revolving funds for the purpose of acquiring equipment. The amount of an advance made to any revolving fund shall not exceed the net book value of the assets acquired with the advance.
History: 1984, Act 431, Eff. Mar. 29, 1985
Status: in_force · Read it on the official government site
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