(1) An application for a loan shall be made on a form prescribed by the department of state and shall be submitted to the department of state. The application shall require the applicant to submit evidence of ownership of the vehicle subject to modification or replacement and an estimate of the cost of modification or replacement. The applicant shall enter into a repayment plan requiring installment payments for a maximum period of 5 years.
    (2) The department of state shall review each application made under this act to determine the applicant’s eligibility for a loan and the applicant’s credit worthiness. The department of state shall certify to the state treasurer each loan application approved by the department of state.

Terms Used In Michigan Laws 257.932

  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
    (3) An application for a loan shall not be accepted by the department of state after July 1, 1983.
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