Section 447.156 – Conducting Business at Public Meeting; Notice; Availability of Writings to Public; Confidentiality.
447.156 Conducting business at public meeting; notice; availability of writings to public; confidentiality. Sec. 6. (1) The business which the authority may perform shall be conducted at a public meeting of the authority held in compliance with the open meetings act, Act No. 267 of the Public Acts of 1976, being sections 15.261 to 15.275 […]
Section 447.157 – Powers of Authority Generally.
447.157 Powers of authority generally. Sec. 7. The authority shall possess all the powers of a body politic and corporate necessary and convenient to accomplish the purposes of this act including, but not limited to, all of the following powers: (a) To borrow money and otherwise incur indebtedness for any of its purposes including the […]
Section 447.158 – Guarantee or Export Insurance for Eligible Export Transaction; Requirements; Fees; Determinations; Condition to Provision of Guarantee or Export Insurance.
447.158 Guarantee or export insurance for eligible export transaction; requirements; fees; determinations; condition to provision of guarantee or export insurance. Sec. 8. (1) The authority may provide a guarantee or export insurance for an eligible export transaction. Any guarantee or export insurance entered into by the authority under this act shall not constitute a general […]
Section 447.158a – Grant to Non-Profit Organization; Purposes.
447.158a Grant to non-profit organization; purposes. Sec. 8a. The authority may provide a grant to a non-profit organization for 1 or more of the following purposes: (a) To encourage establishment or expansion of business operations related to exports which will create or maintain employment in this state. (b) To research industrial and commercial innovations which […]
Section 447.159 – Bonds Generally.
447.159 Bonds generally. Sec. 9. The authority may issue, sell, and provide for the retirement of bonds in the amount of $50,000,000.00 to provide funds for the creation and operation of the authority. These bonds shall be limited obligations of the authority, the principal of and interest on which shall be payable solely out of […]
Section 447.160 – Bonds and Notes Generally.
447.160 Bonds and notes generally. Sec. 10. (1) Bonds issued under this act may be executed and delivered at any time, may be issued as a single issue or from time to time as several issues, may be in the form and denominations, may be in coupon or registered form, may be payable in installments […]
Section 447.161 – Bonds or Security Agreement; Resolution; Trustee or Depository.
447.161 Bonds or security agreement; resolution; trustee or depository. Sec. 11. (1) The resolution under which the bonds are authorized to be issued or any security agreement, including an indenture or trust indenture to be entered into in connection with the bonds, may contain any agreements and provisions customarily contained in instruments securing bonds including, […]
Section 447.123 – Foreign Trade Branch; Powers and Duties.
447.123 Foreign trade branch; powers and duties. Sec. 3. The foreign trade branch shall: (a) Conduct research on foreign laws and regulations affecting sales of agricultural products of this state abroad. (b) Identify foreign markets for agricultural commodities. (c) Identify products of this state for promotion abroad. (d) Design and execute commodity programs for individual […]
Section 447.151 – Short Title.
447.151 Short title. Sec. 1. This act shall be known and may be cited as the “Michigan export development act”. History: 1986, Act 157, Imd. Eff. July 7, 1986 Compiler’s Notes: For transfer of the Michigan Export Development Authority from the Department of Agriculture to the Department of Commerce with rulemaking, licensing, and registration functions […]
Section 447.152 – Definitions.
447.152 Definitions. Sec. 2. As used in this act: (a) “Authority” means the Michigan export development authority created by section 3. (b) “Board” means the board of directors of the authority established by section 4. (c) “Eligible export loan” means a loan by a participating financial institution located within this state the proceeds of which […]