Sec. 5. (1) There is created a public body corporate and politic to be known as the Michigan education trust. The trust shall be within the department of treasury, but shall exercise its prescribed statutory powers, duties, and functions independently of the head of that department. (2) The purposes, powers, and duties of the Michigan education trust are vested in and shall be exercised by a board of directors.
Mich. Comp. Laws § 390.1425
Michigan education trust; creation; exercise of powers, duties, and functions
Applied in 3 court decisions — leading case Michigan v. United States (1994)
Most recently applied in State of Michigan and Michigan Education Trust v. United States (February 1995)
1986, Act 316, Imd
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.