M L  
95th Legislature Regular Session  
Michigan Compiled Laws Complete Through PA 242 of 2009  
House: Adjourned until Wednesday, February 10, 2010 1:30:00 PM  
 
HomeRegisterWhy Register?LoginNew!Help




Act 243 of 1980
Search within this Statute for


EMERGENCY MUNICIPAL LOAN ACT

Act 243 of 1980

AN ACT to provide emergency financial assistance for certain municipalities; to create a local emergency financial assistance loan board and to prescribe the powers and duties of this board; to prescribe conditions for granting and receiving loans, to prescribe terms and conditions for the repayment of loans, and to allow the limiting of repayment by a county from specified revenue sources; to impose certain requirements and duties on certain state departments, municipalities of this state, and officials of the state and municipalities of this state; and to prescribe remedies and penalties.


History: 1980, Act 243, Imd. Eff. July 24, 1980 ;-- Am. 1980, Act 324, Imd. Eff. Dec. 15, 1980 ;-- Am. 1988, Act 198, Imd. Eff. June 27, 1988


© 2009 Legislative Council, State of Michigan

The People of the State of Michigan enact:

DocumentTypeDescription
Section 141.931SectionDefinitions.
Section 141.932SectionLocal emergency financial assistance loan board; creation; membership; powers and duties; approval of actions; conducting business at public meeting; staff services.
Section 141.933SectionMaximum amount of loans in fiscal year; limitations; conditions; revenue for loans; “county juvenile agency” defined.
Section 141.934SectionApplication for loan; resolution; certification of information and conditions; inspection, copying, or auditing of books and records; applicability of subsection (1).
Section 141.935SectionMaximum amount of loans; eligibility.
Section 141.936SectionAnnual rate or rates of interest; fixed rate; rate calculated upon formula; limitation; payment of interest and principal; delinquency; repayment at earlier date or in fewer installments; prohibited conditions; effect of failure to make repayments; loan as general obligation of municipality; exception.
Section 141.937SectionDuties of municipality receiving loan; definitions; exception.
Section 141.938SectionAdditional eligibility requirements; exception.
Section 141.939SectionAnnual report; evaluation of loan program; recommendations.
Section 141.940SectionRepealed. 1980, Act 324, Imd. Eff. Dec. 15, 1980.
Section 141.941SectionShort title.
Section 141.942SectionConditional effective date.

Acceptable Use Policy Privacy Policy Copyright Infringement Comment Form
The Michigan Legislature Website is a free service of the Legislative Internet Technology Team in cooperation with the Michigan Legislative Council, the Michigan House of Representatives, and the Michigan Senate.  The information obtained from this site is not intended to replace official versions of that information and is subject to revision. The Legislature presents this information, without warranties, express or implied, regarding the accuracy of the information, timeliness, or completeness. If you believe the information is inaccurate, out-of-date, or incomplete or if you have problems accessing or reading the information, please send your concerns to the appropriate agency using the online Comment Form in the bar above this text.

Questions about the law?  Contact the State Law Library between 1-5pm (M-F) - (517) 373-0630 or use the comment form to send them email.