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Michigan Compiled Laws Complete Through PA 227 of 2022

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Act 198 of 2003
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Act 198 of 2003

AN ACT to provide insurance to farm produce producers against losses from the failure of grain dealers; to establish a farm produce insurance authority; to prescribe the powers and duties of the authority and its board; to establish a farm produce insurance fund; to provide for assessments on certain producers of farm products; to impose a fee for regulation of grain dealers and enforcement activities; to prescribe certain powers and duties of certain state agencies and officers; to authorize the promulgation of rules; and to repeal acts and parts of acts.

History: 2003, Act 198, Imd. Eff. Nov. 10, 2003 ;-- Am. 2010, Act 300, Imd. Eff. Dec. 16, 2010 ;-- Am. 2012, Act 149, Imd. Eff. May 30, 2012

The People of the State of Michigan enact:

Section 285.311SectionShort title.
Section 285.313SectionDefinitions.
Section 285.315SectionFarm produce insurance authority; creation; powers, duties, and functions.
Section 285.317SectionBoard of directors; membership; terms; vacancy; quorum; meetings; notice; waiver of objection; duties; powers; compensation; inspection of books and records; confidentiality; disclosure.
Section 285.318SectionConduct of business at public meetings; public notice; disclosure of information.
Section 285.319SectionFarm produce insurance fund; establishment; payments; allocation for administrative expenses; payment for legal services and expenses; investments; compliance review of investment portfolio; audit; establishment of fiscal year; "financial institution" defined.
Section 285.320SectionAdministrative premium.
Section 285.321SectionProducer premium; limitation; payment; deduction from proceeds; notice to producer; forwarding for deposit into fund; books and records; availability for inspection or verification; certification of amount of money in fund.
Section 285.323SectionAdministrative premium or producer premium; refund.
Section 285.325SectionClaim for reimbursement.
Section 285.327SectionUse of money; severability; audit.
Section 285.329SectionAction by director or department; defenses.
Section 285.331SectionConduct as misdemeanor; penalties; enforcement action; costs and expenses.
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