Michigan Compiled Laws § 324.19504 Bonds Negotiable; Tax Exemption.

324.19504 Bonds negotiable; tax exemption.

Sec. 19504.

Bonds issued under former Act No. 326 of the Public Acts of 1988 or part 193 shall be fully negotiable under the uniform commercial code, Act No. 174 of the Public Acts of 1962, being sections 440.1101 to 440.11102 of the Michigan Compiled Laws. The bonds and the interest on the bonds shall be exempt from all taxation by the state or any political subdivisions of the state.

History: Add. 1995, Act 60, Imd. Eff. May 24, 1995
Popular Name: Act 451
Popular Name: NREPA

Section: Previous  324.19501  324.19502  324.19503  324.19504  324.19505  324.19506  324.19507  324.19508  324.19509  324.19510  324.19511  324.19512  324.19513    Next

Last modified: October 10, 2016