Mich. Comp. Laws § 41.350q
This is the official text of Mich. Comp. Laws § 41.350q, 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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Withholding and paying lender constitutionally allocated money.
Official statutory text
Sec. 20q.
An ordinance pledging sales tax money pursuant to section 20p may provide that the official charged with disbursement of sales tax money returnable to the township pursuant to sections 8 and 10 of article IX of the state constitution of 1963 shall withhold and pay to the lending person, firm, corporation, bank, or trust company such of the constitutionally allocated money of the township as may be necessary to fulfill the pledge.
History: Add. 1989, Act 83, Imd. Eff. June 20, 1989
An ordinance pledging sales tax money pursuant to section 20p may provide that the official charged with disbursement of sales tax money returnable to the township pursuant to sections 8 and 10 of article IX of the state constitution of 1963 shall withhold and pay to the lending person, firm, corporation, bank, or trust company such of the constitutionally allocated money of the township as may be necessary to fulfill the pledge.
History: Add. 1989, Act 83, Imd. Eff. June 20, 1989
Status: in_force · Read it on the official government site
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