Act

Higher education loan authority act

Mich. Comp. Laws § 390.1151— Short title
Mich. Comp. Laws § 390.1152— Definitions
Mich. Comp. Laws § 390.1153— Authority; creation; autonomous entity; members; terms; quorum; action by authority; meetings
Mich. Comp. Laws § 390.1154— Powers of authority
Mich. Comp. Laws § 390.1154a— Loans to students or parents of students; purpose; rules
Mich. Comp. Laws § 390.1155— Bonds; purposes; general obligation of authority; determination; resolution; requirements; issuance subject to agency financing reporting act; interest rate exchange or agreement; establishment of reserve fund
Mich. Comp. Laws § 390.1156— Bonds; pledge and agreement of state
Mich. Comp. Laws § 390.1157— Bonds as investment securities
Mich. Comp. Laws § 390.1158— Disposition of moneys of authority; contracts with holders of bonds; audit
Mich. Comp. Laws § 390.1158a— Talent investment fund; creation; deposit of money and other assets; money remaining at close of fiscal year; administration; use of fund
Mich. Comp. Laws § 390.1159— Tax exemptions; bonds and interest coupons negotiable; registration of bonds
Mich. Comp. Laws § 390.1160— Pledge by authority; lien of pledge; recording not required
Mich. Comp. Laws § 390.1161— Default; appointment and powers of trustee; rights of bondholders and trustee
Mich. Comp. Laws § 390.1162— Loans to students or parents of students; rules; basis of determining amount of loan; description of options; federally reinsured loans; variable repayment schedules; revised repayment term or schedule
Mich. Comp. Laws § 390.1163— Personal liability
Mich. Comp. Laws § 390.1165— Effective date