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Act 387 of 1978
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Act 387 of 1978

AN ACT to make appropriations to the department of state; to prescribe the powers and duties of the department of state and the state treasurer; to provide for loans to persons who own certain vehicles for the cost of their alteration or replacement; and to provide an interest rate for repayment of those loans.

History: 1978, Act 387, Imd. Eff. July 27, 1978 ;-- Am. 1979, Act 14, Imd. Eff. May 17, 1979

© 2015 Legislative Council, State of Michigan

The People of the State of Michigan enact:

Section 257.931SectionLoans to motor carriers; prerequisites; purpose; loans as investments for state recreational land acquisition trust fund; investigation; determination; applicability of section; condition of loan.
Section 257.932SectionLoans to motor carriers; application; form; evidence of ownership; cost of modification or replacement; repayment plan; review and certification of application; time limitation.
Section 257.933SectionLoans to motor carriers; amount; interest rate; time limitation; collection of repayments; restrictions; amount of money invested; appropriations.
Section 257.934SectionCreation of security interest in name of state on vehicle; sign disclosing state's lien.
Section 257.935SectionDisposition of revenues.
Section 257.936SectionConditional effective date.
Section 257.937SectionRules.