Section 390.1424 – Definitions.
390.1424 Definitions. Sec. 4. As used in this act, except where the context clearly requires otherwise: (a) “Advance tuition payment contract” means a contract entered into by the trust and a purchaser pursuant to section 6 to provide for the higher education of a qualified beneficiary. (b) “Board” means the board of directors of the […]
Section 390.1421 – Short Title.
390.1421 Short title. Sec. 1. This act shall be known and may be cited as the “Michigan education trust act”. History: 1986, Act 316, Imd. Eff. Dec. 23, 1986
Section 390.1422 – Legislative Finding and Declaration.
390.1422 Legislative finding and declaration. Sec. 2. The legislature hereby finds and declares the following: (a) It is an essential function of state government to forever encourage schools and the means of education, as provided in section 1 of article VIII of the state constitution of 1963. (b) It is a responsibility of state government […]