Michigan Compiled Laws 270-1984-8 Chapter 8 (125.2081...125.2087)

• Section 125.2081 “economic Development Fund” Defined.
  As used in this chapter, “economic development fund” means that fund to which the fund succeeded in ownership pursuant to section 22. History: 1984,...
• Section 125.2082 Center For Product Development; Establishment And Operation.
  The fund shall establish and operate a center for product development. History: 1984, Act 270, Eff. Mar. 29, 1985 Compiler's Notes: For transfer of...
• Section 125.2083 Product Development Program Account; Payments Into Account; Transfer Or Deposit Of Money.
  (1) The center for product development shall be funded by an account, which shall be established and managed by the fund, to be known...
• Section 125.2084 Product Development Program Account; Utilization Of Money; Purpose; Terms And Conditions Of Financial Aid; Condition To Financial Aid.
  (1) The fund may utilize the money held in the product development program account to provide financial aid to applicants when financial aid would...
• Section 125.2085 Recipients Of Financial Aid.
  Financial aid provided from the product development program account may be made to any individual, partnership, profit or nonprofit corporation, college or university, or...
• Section 125.2086 Amount Of Financial Aid And Terms Of Venture Agreement; Evaluation And Examination.
  In determining the amount of financial aid to be awarded and the terms of the venture agreement, the fund shall evaluate, among other things,...
• Section 125.2086a Financial Aid To Nonprofit Corporation; Powers And Duties Of Corporation; Fund As Party To Venture Agreement; Provisions Of Venture Agreement.
  (1) The fund may provide financial aid to a nonprofit corporation which has as its only purposes the same purposes as this chapter. Except...
• Section 125.2087 Advisory Panel; Purpose; Membership; Report; Recommendation.
  An advisory panel shall be convened by the fund to consider proposals for venture agreements and financial aid from the product development program account....

Last modified: October 10, 2016