Act 316 of 1986 Michigan Education Trust Act (390.1421 - 390.1444)

Act 316 of 1986 Michigan Education Trust Act (390.1421 - 390.1444)

Section 390.1421 Short Title.
Section 390.1422 Legislative Finding and Declaration.
Section 390.1423 Purposes of Act and Michigan Education Trust.
Section 390.1424 Definitions.
Section 390.1425 Michigan Education Trust; Creation; Exercise of Powers, Duties, and Functions.
Section 390.1426 Advance Tuition Payment Contract Generally.
Section 390.1427 Plan a and Plan B.
Section 390.1428 Termination of Advance Tuition Payment Contract; Refund.
Section 390.1429 Advance Tuition Payment Fund; Creation; Placement of Payments in Fund; Division of Fund Into Separate Accounts; Assets of Trust; Priority of Expenditures; Investments; Compliance With Divestment From Terror Act.
Section 390.1430 Board; Appointment, Qualifications, and Terms of Members; Vacancy; Deputy; Chairperson; President and Chief Executive Officer of Trust; Vice-President of Trust; Compensation; Expenses; Delegation of Functions and Authority; Quorum; Voting; Meetings; Conducting Business at Public Meeting; Notice; Availability of Writings to Public.
Section 390.1431 Additional Powers of Board.
Section 390.1432 Accounting of Trust Generally.
Section 390.1433 Actuarial Soundness of Trust; Ruling or Opinion Internal Revenue Service; Answer From Securities and Exchange Commission; Making Status of Request Known.
Section 390.1434 Enforcement of Act and Contract.
Section 390.1435 Exemption From Taxation.
Section 390.1436 Contracting Services Necessary for Management and Operation of Trust; Instituting Programs to Ensure Full Tuition Prepayment Plans; Report to Legislature.
Section 390.1437 Preserving, Investing, and Expending Assets of Trust.
Section 390.1438 Prohibited Promises or Guarantees.
Section 390.1439 Exemption of Contract From Uniform Securities Act; Sale or Transfer of Contract.
Section 390.1440 Payments Deductible From Taxable Income.
Section 390.1441 Liberal Construction; Powers to Be Broadly Interpreted.
Section 390.1442 Severability.
Section 390.1443, 390.1444 Repealed. 2004, Act 388, Imd. Eff. Oct. 12, 2004.

We have updated our Terms of Service, Privacy Policy, and Disclosures. By continuing to browse this site, you agree to our Terms of Service, Privacy Policy, and Disclosures.

Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.

LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.

The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.

You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.

The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.

Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.

Bookish