Section 125.1857 - Loan document; contents; execution; changes to project; annual report.
MICHIGAN URBAN LAND ASSEMBLY ACT (EXCERPT)
Act 171 of 1981
125.1857 Loan document; contents; execution; changes to project; annual report.
Sec. 7.
(1) A loan document shall be executed between the department and the applicant which shall include a description of the project, and provisions for repayment of the loan. Following the execution of the loan document, changes to the project shall not be made by the applicant without the written approval of the department.
(2) The administering agency shall submit an annual report to the department, which shall include those items required by the department.
History: 1981, Act 171, Imd. Eff. Dec. 3, 1981