Michigan Laws 484.3225 – New partnerships or joint ventures; limitation
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 484.3225
- Authority: means the Michigan broadband development authority created under section 4. See Michigan Laws 484.3203
- Broadband infrastructure: means all facilities, hardware, and software and other intellectual property necessary to provide broadband services in this state, including, but not limited to, voice, video, and data. See Michigan Laws 484.3203
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Except to the extent necessary to maintain, improve, complete, or expand within the defined service area, an element of the broadband infrastructure already acquired or financed under this act, the authority shall not enter into new partnerships or other joint ventures arrangements or provide new loans or joint venture and partnership arrangements after December 31, 2008.