Section 447.206 – Export Sale.
447.206 Export sale. Sec. 6. An export sale under this act may be identified, proposed, developed, originated, or administered by or through an exporter, importer, agricultural trade association, the United States department of agriculture, a world trade center, the department, a qualifying financial institution, a statutorily created agricultural commodity commission, the Michigan export development authority […]
Section 447.207 – Conditional Effective Date.
447.207 Conditional effective date. Sec. 7. This act shall not take effect unless Senate Bill No. 926 of the 85th Legislature is enacted into law. History: 1990, Act 359, Imd. Eff. Dec. 27, 1990 Compiler’s Notes: Senate Bill No. 926, referred to in this section, was filed ith the Secretary of State December 27, 1990, […]
Section 447.211 – Transfer of Powers and Duties of the Foreign Trade Branch and World Trade Services Division to the Department of Commerce; Transfer of Michigan Export Development Authority to Department of Commerce.
447.211 Transfer of powers and duties of the foreign trade branch and world trade services division to the department of commerce; transfer of Michigan export development authority to department of commerce. WHEREAS, Article V, Section 2, of the Constitution of the State of Michigan of 1963 empowers the Governor to make changes in the organization […]
Section 447.212 – Transfer of Powers and Duties of the Division of International Commerce and the Foreign Trade Branch to Department of Commerce by Type III Transfer; Transfer of Powers and Duties of Michigan International Office, Department of Commerce, to the Michigan International Trade Authority by Type III Transfer.
447.212 Transfer of powers and duties of the division of international commerce and the foreign trade branch to department of commerce by type III transfer; transfer of powers and duties of Michigan international office, department of commerce, to the Michigan international trade authority by type III transfer. WHEREAS, Article V, Section 1, of the Constitution […]
Section 447.203 – Michigan Farm Export Loan Program; Creation; Administration; Purpose.
447.203 Michigan farm export loan program; creation; administration; purpose. Sec. 3. The Michigan farm export loan program is created and shall be administered by the department for the purpose of enhancing and promoting the export sale of agricultural commodities and products of the state by making it possible for buyers to purchase on credit terms. […]
Section 447.204 – Duties of Director.
447.204 Duties of director. Sec. 4. (1) The director shall promote, identify, and facilitate, either directly or through any of the persons listed in section 6, export sale opportunities of agricultural commodities and products of the state. (2) If the director finds that a proposed export sale meets the requirements of this act and the […]
Section 447.205 – Loan Requirements.
447.205 Loan requirements. Sec. 5. A loan which the director may recommend to the state treasurer to invest shall meet the following requirements: (a) The agricultural commodities or other products purchased through the loan were produced or processed, in whole or in part, within the state. (b) The terms of the loan would assist in […]
Section 447.162 – Bonds; Refunding.
447.162 Bonds; refunding. Sec. 12. (1) Bonds issued under this act and at any time outstanding, at any time and from time to time, may be refunded by the authority by the issuance of its refunding bonds in an amount as the authority considers necessary, but not exceeding an amount sufficient to refund the principal […]
Section 447.163 – Proceeds From Sale of Bonds; Application; Export Development Bond Fund as Separate Fund; Investments and Earnings.
447.163 Proceeds from sale of bonds; application; export development bond fund as separate fund; investments and earnings. Sec. 13. (1) The proceeds from the sale of any bonds issued under this act shall be applied only for the purpose for which the bonds were issued. However, any premium or secured interest received in a sale […]
Section 447.164 – Tax Exemptions Generally.
447.164 Tax exemptions generally. Sec. 14. The bonds, interest on the bonds, and the transfer of the bonds authorized under this act shall be exempt from all taxation by this state or any of its political subdivisions, except for inheritance, estate, or gift taxes. History: 1986, Act 157, Imd. Eff. July 7, 1986 ;– Am. […]