Michigan Laws 460.628 – Deposit and disbursement of revenues collected
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Michigan Laws 460.628
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Commission: means the propane commission created in section 3. See Michigan Laws 460.622
- Financial institution: means a state or nationally chartered bank, member of the farm credit system, savings and loan association, savings bank, or credit union, whose deposits are insured by an agency of the United States government and that maintains a principal or branch office located in this state under the laws of this state or the United States. See Michigan Laws 460.622
- 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
Money, assets, or other items of value collected or received under this act, whether collected from assessments, received as grants or gifts, or earned from royalties or license fees or derived from any activities performed by an organization, agency, or individual and conducted under this act, are not state money and must be deposited in a financial institution in this state. The money, assets, or other items of value described in this section are allocated to the commission and must be disbursed by the commission to carry out its responsibilities under this act.