Section 206.1035 – American Red Cross Michigan Fund; Creation; Purpose; Administrator; Credit of Amounts Appropriated Under MCL 206.435; Investment; Interest and Earnings; Money From Other Sources; Money Remaining at Close of Fiscal Year.
206.1035 American Red Cross Michigan fund; creation; purpose; administrator; credit of amounts appropriated under MCL 206.435; investment; interest and earnings; money from other sources; money remaining at close of fiscal year. Sec. 5. (1) The American Red Cross Michigan fund is created in the department to provide funds for donation to the Michigan chapters of […]
Section 206.991 – Submission of Certain Information to Internal Revenue Service, Department, and Account Owner.
206.991 Submission of certain information to internal revenue service, department, and account owner. Sec. 11. (1) In accordance with section 529A(d) of the internal revenue code, each program manager shall submit both of the following to the internal revenue service and the department: (a) A notice upon the establishment of each ABLE savings account. The […]
Section 206.1037 – Expenditures.
206.1037 Expenditures. Sec. 7. The money, interest, and earnings of the fund shall be expended solely for donation to the mid-Michigan chapter of the American Red Cross for distribution to the Michigan chapters of the American Red Cross. History: 2016, Act 183, Imd. Eff. June 16, 2016
Section 206.992 – Disclosure of Information to Account Owner and Other Person Requesting Information.
206.992 Disclosure of information to account owner and other person requesting information. Sec. 12. Each program manager shall disclose the following information in writing to each account owner of an ABLE savings account and any other person who requests information about an ABLE savings account: (a) The terms and conditions for establishing an ABLE savings […]
Section 206.1039 – Distributions.
206.1039 Distributions. Sec. 9. The money in the fund that is available for distribution shall be appropriated each year. Money granted or received as a gift or donation to the fund is available for distribution upon appropriation. History: 2016, Act 183, Imd. Eff. June 16, 2016
Section 206.993 – Construction and Interpretation of Act and Agreement.
206.993 Construction and interpretation of act and agreement. Sec. 13. This act and any agreement under this act shall not be construed or interpreted to do any of the following: (a) Give any designated beneficiary any rights or legal interest with respect to an account unless the designated beneficiary is the account owner. (b) Give […]
Section 206.994 – State Obligation.
206.994 State obligation. Sec. 14. (1) This act does not create and shall not be construed to create any obligation upon this state or any agency or instrumentality of this state to guarantee for the benefit of an account owner or designated beneficiary any of the following: (a) The rate of interest or other return […]
Section 206.967 – Expenditure.
206.967 Expenditure. Sec. 7. The money, interest, and earnings of the fund shall be expended solely for donation to the greater Michigan chapter of the Alzheimer’s association for distribution to the greater Michigan and Michigan Great Lakes chapters of the Alzheimer’s association. History: 2013, Act 88, Imd. Eff. June 28, 2013
Section 206.969 – Availability of Money for Distribution.
206.969 Availability of money for distribution. Sec. 9. The money in the fund that is available for distribution shall be appropriated each year. Money granted or received as a gift or donation to the fund is available for distribution upon appropriation. History: 2013, Act 88, Imd. Eff. June 28, 2013
Section 206.981 – Short Title.
206.981 Short title. Sec. 1. This act shall be known and may be cited as the “Michigan achieving a better life experience (ABLE) program act”. History: 2015, Act 160, Eff. Jan. 26, 2016