Michigan Compiled Laws § 35.1037 Bonds; Negotiable; Tax Exempt.

35.1037 Bonds; negotiable; tax exempt.

Sec. 17.

Bonds issued under this act shall be fully negotiable under the uniform commercial code, 1962 PA 174, MCL 440.1101 to 440.11102, and the bonds and the interest thereon are exempt from all taxation by this state or any of its political subdivisions.

History: 1974, Act 370, Imd. Eff. Dec. 23, 1974 ;-- Am. 2000, Act 349, Eff. Mar. 28, 2001

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Last modified: October 10, 2016