Section 206.905 – Participant Savings Plan Agreement; Matching Funds; Distributions; Manner.
206.905 Participant savings plan agreement; matching funds; distributions; manner. Sec. 5. (1) A program site shall enter into a participant savings plan agreement with each account holder who is approved to establish an individual or family development account. (2) Upon request from a program site, the fiduciary organization shall provide matching funds for contributions to […]
Section 206.906 – Withdrawal Matched by Program Site; Contingent Beneficiary; Financial Institution Not Responsible for Verification.
206.906 Withdrawal matched by program site; contingent beneficiary; financial institution not responsible for verification. Sec. 6. (1) Money withdrawn during a calendar year from an individual or family development account by an account holder for a purpose under section 4 shall be matched by the program site as provided in the participant savings plan agreement […]
Section 206.907, 206.908 – Repealed. 2011, Act 38, Eff. Jan. 1, 2012.
206.907, 206.908 Repealed. 2011, Act 38, Eff. Jan. 1, 2012. Compiler’s Notes: The repealed sections pertained to eligibility for tax credit and limitation on total amount of credits.
Section 206.909 – Administration of Individual or Family Development Account Program by Fiduciary Organization; Report.
206.909 Administration of individual or family development account program by fiduciary organization; report. Sec. 9. (1) A fiduciary organization selected to administer an individual or family development account program under this act shall file with the agency an annual report of the fiduciary organization’s individual development account program activity related to accounts established for the […]
Section 206.910 – Rules.
206.910 Rules. Sec. 10. The Michigan state housing development authority and the department, in consultation with one another, may promulgate rules as needed to implement their respective responsibilities under this act under the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328. History: 2006, Act 513, Eff. Jan. 1, 2007 ;– Am. […]
Section 206.911 – Effective Date.
206.911 Effective date. Sec. 11. This act takes effect January 1, 2007. History: 2006, Act 513, Eff. Jan. 1, 2007 Compiler’s Notes: This section as originally enacted was assigned the compilation number “206.711”. To avoid a conflict with another section numbered “206.711”, this section has been renumbered as 206.911.
Section 206.921 – Short Title.
206.921 Short title. Sec. 1. This act shall be known and may be cited as the “girl scouts of Michigan fund act”. History: 2010, Act 347, Imd. Eff. Dec. 21, 2010 Compiler’s Notes: This section as originally enacted was assigned the compilation number “206.721”. To avoid a conflict, this section has been renumbered as 206.921.
Section 206.922 – Definitions.
206.922 Definitions. Sec. 2. As used in this act: (a) “Department” means the department of treasury. (b) “Fund” means the girl scouts of Michigan fund created in section 3. History: 2010, Act 347, Imd. Eff. Dec. 21, 2010 Compiler’s Notes: This section as originally enacted was assigned the compilation number “206.722”. To avoid a conflict, […]
Section 206.923 – Girl Scouts of Michigan Fund; Creation; Purpose; Amounts Credited to Fund; Investment.
206.923 Girl scouts of Michigan fund; creation; purpose; amounts credited to fund; investment. Sec. 3. (1) The girl scouts of Michigan fund is created in the department to provide funds for donation to any girl scout organization located in this state to prepare young people to make ethical and moral choices over their lifetimes by […]
Section 206.924 – Expenditures; Availability of Gift or Donation for Distribution.
206.924 Expenditures; availability of gift or donation for distribution. Sec. 4. (1) The money, interest, and earnings of the fund shall be expended solely for the purposes described in this act. (2) Money granted or received as a gift or donation to the fund is available for distribution upon appropriation to each county from which […]