| § 390.1421 |
Short title |
| § 390.1422 |
Legislative finding and declaration |
| § 390.1423 |
Purposes of act and Michigan education trust |
| § 390.1424 |
Definitions |
| § 390.1425 |
Michigan education trust; creation; exercise of powers, duties, and functions |
| § 390.1426 |
Advance tuition payment contract generally |
| § 390.1427 |
Plan A and Plan B |
| § 390.1428 |
Termination of advance tuition payment contract; refund |
| § 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 |
| § 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; condu |
| § 390.1431 |
Additional powers of board |
| § 390.1432 |
Accounting of trust generally |
| § 390.1433 |
Actuarial soundness of trust; ruling or opinion internal revenue service; answer from securities and exchange commission; making status of request known |
| § 390.1434 |
Enforcement of act and contract |
| § 390.1435 |
Exemption from taxation |
| § 390.1436 |
Contracting services necessary for management and operation of trust; instituting programs to ensure full tuition prepayment plans; report to legislature |
| § 390.1437 |
Preserving, investing, and expending assets of trust |
| § 390.1438 |
Prohibited promises or guarantees |
| § 390.1439 |
Exemption of contract from uniform securities act; sale or transfer of contract |
| § 390.1440 |
Payments deductible from taxable income |
| § 390.1441 |
Liberal construction; powers to be broadly interpreted |
| § 390.1442 |
Severability |
| § 390.1443, 390.1444 |
Repealed. 2004, Act 388, Imd. Eff. Oct. 12, 2004 |
