Loading chat...
MI SB0708
Bill
Status
7/15/2009
Primary Sponsor
Randy Richardville
Click for details
AI Summary
-
Amends the Michigan Export Development Act to update references to securities laws in Section 10 (MCL 447.160)
-
Bonds issued by the authority remain subject to the Revised Municipal Finance Act, 2001 PA 34 (MCL 141.2101 to 141.2821)
-
Bonds issued by the authority are not required to be registered under either the Uniform Securities Act, 1964 PA 265 (MCL 451.501 to 451.818) or the Uniform Securities Act (2002), 2008 PA 551 (MCL 451.2101 to 451.2703)
-
Authorizes bonds to be issued in various forms and denominations with flexible terms including maturity periods up to 30 years and variable or fixed interest rates
-
Allows the authority to sell bonds at public or private sale and to pay associated expenses and premiums from bond proceeds
Legislative Description
Trade; securities; adoption of new uniform securities act (2002); update uniform securities act references in Michigan export development act. Amends sec. 10 of 1986 PA 157 (MCL 447.160).
Trade, securities
Last Action
Referred To Committee On Banking And Financial Institutions
7/15/2009