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Michigan Legislature
Michigan Compiled Laws Complete Through PA 47 of 2019
House: Adjourned until Wednesday, July 24, 2019 1:30:00 PM
Senate: Adjourned until Wednesday, July 24, 2019 10:00:00 AM

Michigan Legislature

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NOTE: Dates reflect any modification to item, not necessarily a change in law.

Act 220 of 1982 - MICHIGAN FAMILY FARM DEVELOPMENT ACT (285.251 - 285.279)
Section 285.251 ‑ Short title.
Section 285.252 ‑ Definitions; rules.
Section 285.253 ‑ Michigan family farm development authority; creation; purpose; appointment, qualifications, and terms of members; expenses; certificate of appointment or reappointment; powers; actions by authority; quorum; findings of fact; conducting business at public meeting; notice of meeting; chairperson and vice-chairperson; officers, agents, and employees; delegation of powers and duties.
Section 285.254 ‑ Performance of duties, implementation of powers, and selection of programs and projects; principles.
Section 285.255 ‑ Powers of authority generally.
Section 285.256 ‑ Annual report.
Section 285.257 ‑ Use of surplus money.
Section 285.258 ‑ Combining program with other state or federal programs.
Section 285.259 ‑ Beginning farmer loan program; development; exercise of powers by authority; participation in federal and state programs; requirements for providing loan to beginning farmer; acceleration of loan; assumption of mortgage; transfer of interest; participation interest in mortgage loan.
Section 285.260 ‑ Making, purchasing, or participating in loans, grants, or deferred payment loans to beginning farmers; secured or unsecured loans and grants; insurance; interest rate; terms and conditions; rules.
Section 285.261 ‑ Loans to mortgage lenders; requirements and conditions.
Section 285.262 ‑ Purchasing mortgage or secured loans from mortgage lenders; commitment to purchase; requirements and conditions.
Section 285.263 ‑ Bonds and notes; general obligations; negotiability; issuance subject to agency financing reporting act.
Section 285.264 ‑ Bonds and notes; authorization; requirements; sale.
Section 285.265 ‑ Resolution authorizing notes or bonds; provisions.
Section 285.266 ‑ Pledge by authority; validity; lien; recording of resolution or instrument not required.
Section 285.267 ‑ Personal liability on note or bond of authority.
Section 285.268 ‑ Purchase and cancellation of notes or bonds by authority; price.
Section 285.269 ‑ Nonliability of state on notes or bonds of authority; statement.
Section 285.270 ‑ Capital reserve funds.
Section 285.271 ‑ General reserve fund.
Section 285.272 ‑ Pledge and agreement of state with holders of notes or bonds.
Section 285.273 ‑ Default by authority; appointment and powers of trustee; notice by trustee.
Section 285.274 ‑ Depositing money of authority in bank or savings and loan association; security; contracting with holders of notes or bonds for certain purposes; system of accounts; operating expenditures; audit.
Section 285.275 ‑ Notes and bonds of authority as securities; investment.
Section 285.276 ‑ Recommending issuance of faith and credit bonds to legislature.
Section 285.277 ‑ Tax exemptions.
Section 285.278 ‑ Covenant by state with purchasers, holders, and transferees of notes and bonds concerning tax exemptions.
Section 285.279 ‑ Prohibited conduct; violation; penalties; determination of total value; prior convictions; “proceeds” defined; prohibition.

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