(1) The Michigan export development authority is created as a body politic and corporate within, but not as a part of, the department of agriculture. The authority shall exercise the authority’s prescribed statutory powers, duties, and functions independently of the director of the department of agriculture and independently of the commission of agriculture. The budgeting, procurement, and related functions of the authority shall be performed under the direction and supervision of the director of the department of agriculture.
  (2) The purpose of the authority is:

Terms Used In Michigan Laws 447.153

  • Authority: means the Michigan export development authority created by section 3. See Michigan Laws 447.152
  • Export insurance: means insurance made available by the authority to protect an exporter against a foreign buyer's failure to pay for goods or services for political or commercial reasons. See Michigan Laws 447.152
  • 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
  (a) To assist, promote, encourage, develop, and advance economic prosperity and employment throughout this state by fostering the expansion of exports of goods and services to foreign purchasers.
  (b) To cooperate and act in conjunction with other organizations, public and private, the objects of which are the promotion and advancement of export trade activities in this state.
  (c) To provide guarantees and grants and to locate sources and export insurance to support export development not otherwise available.
  (d) To provide information and referrals to, and to act as a clearinghouse for, potential and existing exporters.
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