Section 125.2014 - Loans and transactions.
MICHIGAN STRATEGIC FUND ACT (EXCERPT)
Act 270 of 1984
125.2014 Loans and transactions.
Sec. 14.
A loan made by the fund pursuant to this act or through any of its centers shall not be considered a loan proscribed by section 11 of Act No. 472 of the Public Acts of 1978, being section 4.421 of the Michigan Compiled Laws. In addition, any transaction of the fund pursuant to this act or through any of its centers shall be considered a financial transaction in the ordinary course of business of the fund for purposes of Act No. 472 of the Public Acts of 1978, being sections 4.411 to 4.431 of the Michigan Compiled Laws.
History: 1984, Act 270, Eff. Mar. 29, 1985
Popular Name: Strategic Fund