Section 447.201 – Short Title.

447.201 Short title. Sec. 1. This act shall be known and may be cited as the “Michigan farm export act”. History: 1990, Act 359, Imd. Eff. Dec. 27, 1990

Section 447.202 – Definitions.

447.202 Definitions. Sec. 2. As used in this act: (a) “Department” means the department of agriculture. (b) “Director” means the director of the department of agriculture. (c) “Person” means an individual, corporation, association, partnership, governmental agency, or any other legal entity. (d) “Qualifying financial institution” means a state or national chartered bank, a state or […]

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 447.206 – 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, […]