Michigan Laws 324.44105 – Maintenance and investment of corpus, interest, and earnings of trust fund; crediting certain amount to game and fish protection account
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Michigan Laws 324.44105
- Department: means the director of the department of natural resources or his or her designee to whom the director delegates a power or duty by written instrument. See Michigan Laws 324.301
- Legacy: A gift of property made by will.
- Trust fund: means the game and fish lifetime license trust fund created in section 44104. See Michigan Laws 324.44101
(1) Except as otherwise provided in subsection (2) , the corpus of the trust fund and the interest and earnings of the trust fund shall be maintained and invested by the state treasurer as provided in section 44104.
(2) For each lifetime license issued under this part, the state treasurer shall credit annually to the game and fish protection account of the Michigan conservation and recreation legacy fund provided for in section 2010 from the accumulated interest and earnings of the trust fund, and from the corpus of the trust fund if the accumulated interest and earnings of the trust fund are insufficient, that amount of money that the department would have received had the holder of the lifetime license purchased the equivalent annual license during the license year. For a comprehensive lifetime hunting and fishing license, the equivalent annual license for purposes of calculations required by this section shall be the annual sportsperson license available pursuant to section 43521.