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Michigan Legislature
Michigan Compiled Laws Complete Through PA 227 of 2022
House: Adjourned until Wednesday, November 30, 2022 1:30:00 PM
Senate: Adjourned until Tuesday, December 6, 2022 10:00:00 AM


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258-2003-1
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LAND BANK FAST TRACK ACT (EXCERPT)
Act 258 of 2003
Chapter 1
GENERAL PROVISIONS

DocumentTypeDescription
Section 124.751SectionShort title.
Section 124.752SectionLegislative findings.
Section 124.753SectionDefinitions.
Section 124.754SectionPowers.
Section 124.755SectionAcquisition of property; accepting deed in lieu of foreclosure or sale; release of tax lien.
Section 124.756SectionPreservation of property value.
Section 124.757SectionDisposition of property by authority; inventory and classification of property; title status and suitability for use; recording property transfer.
Section 124.758SectionReceipt of tax, penalty, or interest payments; return to local tax collecting unit; retention of proceeds.
Section 124.759SectionExpedited quiet title and foreclosure action; procedure.
Section 124.760SectionProperty as site of environmental contamination; information to be provided to department of environmental quality; property subject to certain conditions; liability.
Section 124.761SectionWaste of or unlawful removal of property; restraining order.
Section 124.762SectionAuthority as party to civil action.
Section 124.763SectionProperty of authority as public property.
Section 124.764SectionConstruction, intent, and scope of act.
Section 124.765SectionLand bank fast track authority; creation; powers and duties; staffing; cooperation with state departments and agencies.
Section 124.766SectionBoard of directors; membership; appointment; terms; oath; removal; vacancy; election of chairperson and vice-chairperson; designation of representative; discharge of duties.
Section 124.767SectionExecutive director; appointment; eligibility; oath; duties.
Section 124.768SectionLand bank fast track fund; creation; receipt of money or other assets; transfer of money in urban land assembly loan fund; loan repayments; money remaining in fund; expenditures; disposition of proceeds.
Section 124.769SectionBorrowing money and issuing bonds or notes.
Section 124.770SectionTransfer of property from state administrative board.
Section 124.771SectionDissolution of authority.
Section 124.772SectionBiennial report.
Section 124.773SectionIntergovernmental agreements.
Section 124.774SectionAuthority created under MCL 124.773; borrowing money and issuing bonds or notes.
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