reglab/housing_qa huggingface dataset:
MI Comp L § 447.123 (2021)
2021 Michigan Compiled Laws|Chapter 447 - Foreign Trade|Act 23 of 1968 - Foreign Trade Branch of Department of Agriculture (447.121 - 447.123)|Section 447.123 - Foreign Trade Branch; Powers and Duties.

447.123 Foreign trade branch; powers and duties. Sec. 3.  The foreign trade branch shall:  (a) Conduct research on foreign laws and regulations affecting sales of agricultural products of this state abroad.  (b) Identify foreign markets for agricultural commodities.  (c) Identify products of this state for promotion abroad.  (d) Design and execute commodity programs for individual country markets.  (e) Conduct programs to encourage greater awareness and participation of the farm community of this state in export sales.  (f) Encourage and assist the expansion of international activities by the various commodity commissions.  (g) Encourage and assist the expansion of international activities by farm organizations.  (h) Coordinate relationships and communications with the foreign agriculture service, national commodity groups, United States bureau of commerce, national trade associations and other national agencies in requests for agriculture trade leads either for Michigan suppliers or in cooperation with suppliers in other states.  (i) Encourage Michigan agricultural industry participation in F.A.S. and bureau of commerce sponsored trade fairs and missions.  (j) Organize, correlate and implement state, industry and commodity groups on foreign visits and trade missions; selecting potential market areas; developing and publishing market surveys for potential penetration by Michigan suppliers.  (k) Conduct foreign market research to determine areas where promotion of Michigan products should be concentrated.  (l) Develop or cause to be developed, multilingual promotional materials for foreign distribution. Develop English versions of foreign promotional presentations for domestic markets and be responsible for appropriate distribution of all trade material developed to aid Michigan shippers and foreign buyers. History: 1968, Act 23, Imd. Eff. May 17, 1968 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the division of international commerce and foreign trade branch to the department of commerce and the authority, powers, duties, functions, and responsibilities of the Michigan international office, Michigan department of commerce, to the Michigan international trade authority, see E.R.O. No. 1994-3, compiled at MCL 447.212 of the Michigan Compiled Laws.
MI Comp L § 447.151 (2021)
2021 Michigan Compiled Laws|Chapter 447 - Foreign Trade|Act 157 of 1986 - Michigan Export Development Act (447.151 - 447.168)|Section 447.151 - Short Title.

447.151 Short title. Sec. 1.  This act shall be known and may be cited as the “Michigan export development act”. History: 1986, Act 157, Imd. Eff. July 7, 1986 Compiler's Notes: For transfer of the Michigan Export Development Authority from the Department of Agriculture to the Department of Commerce with rulemaking, licensing, and registration functions to be exercised by the Authority independent of the Director of the Department of Commerce, see E.R.O. No. 1991-11, compiled at MCL 447.211 of the Michigan Compiled Laws.For naming of the Michigan export development authority as the Michigan international trade authority, see E.R.O. No. 1994-3, compiled at MCL 447.212 of the Michigan Compiled Laws.
MI Comp L § 447.152 (2021)
2021 Michigan Compiled Laws|Chapter 447 - Foreign Trade|Act 157 of 1986 - Michigan Export Development Act (447.151 - 447.168)|Section 447.152 - Definitions.

447.152 Definitions. Sec. 2.  As used in this act:  (a) “Authority” means the Michigan export development authority created by section 3.  (b) “Board” means the board of directors of the authority established by section 4.  (c) “Eligible export loan” means a loan by a participating financial institution located within this state the proceeds of which are restricted to the financing of eligible export transactions.  (d) “Eligible export transaction” means the sale of goods or services, or the development of goods or services for sale, outside of the United States by a person doing business in this state, which goods or services, in the judgment of the authority, have a substantial portion of their value created within this state and which sale or development, in the judgment of the authority, creates or maintains employment in this state.  (e) “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. The amount of the loss covered for each transaction and particular risks shall be determined by the authority.  (f) “Grant” means an amount of money provided by the authority to a nonprofit organization.  (g) “Guarantee” means a guarantee against loss, in whole or in part, of principal of and interest on an eligible export loan. The guarantee may include, without limitation, insurance against loss up to the guarantee amount. A single guarantee may encompass several individual eligible export loans or eligible export transactions.  (h) “Guarantee amount” means the maximum amount payable under a guarantee which amount shall be specifically set forth in writing at the time the guarantee is entered into by the authority.  (i) “Participating financial institution” means a bank as defined by the banking code of 1999, 1999 PA 276, MCL 487.11101 to 487.15105, an agency or branch of a foreign banking corporation licensed by the commissioner of the financial institutions bureau, or a national bank, state or federal savings and loan association, or savings bank or federal credit union located within this state that has been approved by the board to participate in guaranteed funding for eligible export loans and transactions within the purposes of this act. History: 1986, Act 157, Imd. Eff. July 7, 1986 ;-- Am. 1990, Act 304, Imd. Eff. Dec. 14, 1990 ;-- Am. 2000, Act 444, Imd. Eff. Jan. 9, 2001
MI Comp L § 447.153 (2021)
2021 Michigan Compiled Laws|Chapter 447 - Foreign Trade|Act 157 of 1986 - Michigan Export Development Act (447.151 - 447.168)|Section 447.153 - Michigan Export Development Authority; Creation; Budgeting, Procurement, and Related Functions; Purpose of Authority.

447.153 Michigan export development authority; creation; budgeting, procurement, and related functions; purpose of authority. Sec. 3.  (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:  (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. History: 1986, Act 157, Imd. Eff. July 7, 1986 ;-- Am. 1990, Act 304, Imd. Eff. Dec. 14, 1990 Compiler's Notes: For naming of the Michigan export development authority as the Michigan international trade authority, see E.R.O. No. 1994-3, compiled at MCL 447.212 of the Michigan Compiled Laws.
MI Comp L § 447.155 (2021)
2021 Michigan Compiled Laws|Chapter 447 - Foreign Trade|Act 157 of 1986 - Michigan Export Development Act (447.151 - 447.168)|Section 447.155 - Effect of Vacancy in Membership of Board; Authorization and Effective Date of Action by Board; Delegation of Powers and Duties; Liability or Accountability on Contract, Commitment, or Agreement; Liability for Damage or Injury; Indemnification of Board Members and Staff Officers; Appointment of Employees to Unclassified Positions; Terms.

447.155 Effect of vacancy in membership of board; authorization and effective date of action by board; delegation of powers and duties; liability or accountability on contract, commitment, or agreement; liability for damage or injury; indemnification of board members and staff officers; appointment of employees to unclassified positions; terms. Sec. 5.  (1) A vacancy in the membership of the board shall not impair the right of a quorum to exercise all rights and perform all the duties of the board. An action taken by the board may be authorized by resolution at a regular or special meeting and shall take effect upon the date the resolution is approved by the board unless some other date is provided in the resolution.  (2) The board may delegate to 1 or more of its members or to an official, agent, or employee of the authority the powers and duties as the board considers proper.  (3) A member of the board or a person acting on behalf of the authority executing a contract, commitment, or agreement issued under this act shall not be personally liable or accountable on the contract, commitment, or agreement.  (4) A member of the board or a person acting on behalf of the authority shall not be liable personally for damage or injury resulting from the performance of his or her duties arising under this act. The authority shall indemnify and procure insurance indemnifying the members of the board and staff officers appointed by a resolution of the board from personal loss or accountability from liability asserted by a person on the bonds or notes of the fund or from any personal liability or accountability by reason of the issuance of the bonds, notes, insurance, or guarantees; or by reason of any other action taken or the failure to act by the authority.  (5) The board may appoint up to 2 employees to unclassified positions not included in the state civil service to serve for terms at the pleasure of the board. History: 1986, Act 157, Imd. Eff. July 7, 1986 ;-- Am. 1990, Act 304, Imd. Eff. Dec. 14, 1990
MI Comp L § 447.156 (2021)
2021 Michigan Compiled Laws|Chapter 447 - Foreign Trade|Act 157 of 1986 - Michigan Export Development Act (447.151 - 447.168)|Section 447.156 - Conducting Business at Public Meeting; Notice; Availability of Writings to Public; Confidentiality.

447.156 Conducting business at public meeting; notice; availability of writings to public; confidentiality. Sec. 6.  (1) The business which the authority may perform shall be conducted at a public meeting of the authority held in compliance with the open meetings act, Act No. 267 of the Public Acts of 1976, being sections 15.261 to 15.275 of the Michigan Compiled Laws. Public notice of the time, date, and place of the meeting shall be given in the manner required by Act No. 267 of the Public Acts of 1976.  (2) Except as provided in subsection (3), all writing prepared, owned, used, in the possession of, or retained by the authority in the performance of an official function shall be made available to the public in compliance with the freedom of information act, Act No. 442 of the Public Acts of 1976, being sections 15.231 to 15.246 of the Michigan Compiled Laws.  (3) Information submitted to or compiled by the authority in connection with the authority's responsibilities with respect to the identity, background, finance, marketing plans, trade secrets, or any other commercially sensitive information of persons, firms, associations, partnerships, agencies, corporations, or other entities is confidential, except to the extent that the person or entity which provided the information consents to disclosure. History: 1986, Act 157, Imd. Eff. July 7, 1986
MI Comp L § 447.158 (2021)
2021 Michigan Compiled Laws|Chapter 447 - Foreign Trade|Act 157 of 1986 - Michigan Export Development Act (447.151 - 447.168)|Section 447.158 - Guarantee or Export Insurance for Eligible Export Transaction; Requirements; Fees; Determinations; Condition to Provision of Guarantee or Export Insurance.

447.158 Guarantee or export insurance for eligible export transaction; requirements; fees; determinations; condition to provision of guarantee or export insurance. Sec. 8.  (1) The authority may provide a guarantee or export insurance for an eligible export transaction. Any guarantee or export insurance entered into by the authority under this act shall not constitute a general obligation of this state. Guarantees or export insurance provided by the authority under this act shall not be terminated, canceled, or otherwise revoked except in accordance with the terms of the guarantee or export insurance; shall be conclusive evidence that the guarantee or export insurance complies fully with the provisions of this act; and shall be valid and incontestable in the hands of a holder in due course of a guaranteed eligible export loan.  (2) The authority may charge reasonable fees for providing guarantee or export insurance pursuant to this section to a participating financial institution.  (3) Before providing financing for an eligible export transaction, a participating financial institution shall determine the exporter's viability, the economic benefits to be derived from the eligible export transaction, the prospects for repayment, and any other facts that it considers necessary in order to determine that the guarantee or export insurance is consistent with the purposes of this act.  (4) The authority shall provide the guarantee only if, and to the extent that, the authority determines in its sole discretion that at least 1 of the following is true:  (a) The guarantee is reasonably necessary in order to stimulate or facilitate the making of an eligible export transaction including, without limitation, the making of the eligible export transaction upon terms that will enable the transaction to be reasonably competitive with transactions in other states or in foreign countries.  (b) The guarantee is reasonably necessary in order to stimulate or facilitate the resale of an eligible export loan to a holder in due course that otherwise would not purchase the eligible export loan and documentation is provided by the financial institution indicating refusal to provide a loan sufficient for the eligible export transaction.  (5) The authority may condition the provision of guarantee or export insurance under this section upon such other terms and conditions as the authority considers desirable to carry out the purposes of this act. History: 1986, Act 157, Imd. Eff. July 7, 1986 ;-- Am. 1990, Act 304, Imd. Eff. Dec. 14, 1990
MI Comp L § 447.158a (2021)
2021 Michigan Compiled Laws|Chapter 447 - Foreign Trade|Act 157 of 1986 - Michigan Export Development Act (447.151 - 447.168)|Section 447.158a - Grant to Non-Profit Organization; Purposes.

447.158a Grant to non-profit organization; purposes. Sec. 8a.  The authority may provide a grant to a non-profit organization for 1 or more of the following purposes:  (a) To encourage establishment or expansion of business operations related to exports which will create or maintain employment in this state.  (b) To research industrial and commercial innovations which are likely to increase exports from this state.  (c) To conduct market research to determine the potential for increasing goods and services from this state. History: Add. 1990, Act 304, Imd. Eff. Dec. 14, 1990
MI Comp L § 447.159 (2021)
2021 Michigan Compiled Laws|Chapter 447 - Foreign Trade|Act 157 of 1986 - Michigan Export Development Act (447.151 - 447.168)|Section 447.159 - Bonds Generally.

447.159 Bonds generally. Sec. 9.  The authority may issue, sell, and provide for the retirement of bonds in the amount of $50,000,000.00 to provide funds for the creation and operation of the authority. These bonds shall be limited obligations of the authority, the principal of and interest on which shall be payable solely out of the revenues derived by the authority. Bonds issued under this act shall not constitute an indebtedness of the state or the uthority within the meaning of any state constitutional provision or statutory limitation, but the bonds shall be indebtedness payable solely from bond revenues and fees, interest on the revenues and fees, and funds established for the payment of the bonds, and shall not constitute nor give rise to a pecuniary liability of the state or the authority, to a charge against the general credit of the authority or the state, or to a charge against the taxing powers of the state, and that fact shall be plainly stated on the face of each bond. History: 1986, Act 157, Imd. Eff. July 7, 1986
MI Comp L § 447.160 (2021)
2021 Michigan Compiled Laws|Chapter 447 - Foreign Trade|Act 157 of 1986 - Michigan Export Development Act (447.151 - 447.168)|Section 447.160 - Bonds and Notes Generally.

447.160 Bonds and notes generally.Sec. 10.  (1) Bonds issued under this act may be executed and delivered at any time, may be issued as a single issue or from time to time as several issues, may be in the form and denominations, may be in coupon or registered form, may be payable in installments and at such time or times not exceeding 30 years from their date, may be subject to the terms of redemption, may be payable at such place or places, may bear interest at the rate or rates as may be set, reset, or calculated from time to time, or may bear no interest and may contain provisions not inconsistent with this act, all of which shall be provided in the resolution of the authority authorizing the bonds.  (2) Bonds issued under the authority of this act may be sold at public or private sale at the price and in the manner and from time to time as may be determined by the authority to be most advantageous. The authority may pay all expenses, premiums, insurance premiums, and commissions that the authority considers necessary or advantageous in connection with the authorization, sale, and issuance of the bonds from proceeds of the bonds.  (3) Bonds or notes issued by the authority are subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821. The bonds issued by the authority are not required to be registered. A filing of a bond of the authority is not required under the uniform securities act, 1964 PA 265, MCL 451.501 to 451.818, or the uniform securities act (2002), 2008 PA 551, MCL 451.2101 to 451.2703. History: 1986, Act 157, Imd. Eff. July 7, 1986 ;-- Am. 1990, Act 304, Imd. Eff. Dec. 14, 1990 ;-- Am. 2002, Act 302, Imd. Eff. May 9, 2002 ;-- Am. 2009, Act 81, Imd. Eff. Aug. 31, 2009
MI Comp L § 447.161 (2021)
2021 Michigan Compiled Laws|Chapter 447 - Foreign Trade|Act 157 of 1986 - Michigan Export Development Act (447.151 - 447.168)|Section 447.161 - Bonds or Security Agreement; Resolution; Trustee or Depository.

447.161 Bonds or security agreement; resolution; trustee or depository. Sec. 11.  (1) The resolution under which the bonds are authorized to be issued or any security agreement, including an indenture or trust indenture to be entered into in connection with the bonds, may contain any agreements and provisions customarily contained in instruments securing bonds including, without limiting the generality of the foregoing, provisions respecting the fixing and collection of obligations, the creation and maintenance of special funds, and the rights and remedies available, in the event of default, to the bondholders or to the trustee under the security agreement, all as the authority considers advisable and as is not in conflict with this act. However, in making an agreement or provisions, the authority may not obligate itself, except with respect to eligible export loans and transactions, and may not incur a pecuniary liability or a charge upon the general credit of the authority or of the state, or against the taxing powers of the state.  (2) The resolution of the authority authorizing bonds under this act and security agreement securing the bonds may provide that, in the event of default in payment of the principal of or the interest on the bonds or in the performance of an agreement contained in the proceedings or security agreement, the payment and performance may be enforced by mandamus or by the appointment of a receiver in equity with power to charge and collect any obligations and to apply any revenues pledged in accordance with the proceedings or the provisions of the security agreement. A security agreement also may provide that, in the event of default in payment or the violation of an agreement contained in the security agreement, the agreement may be foreclosed by proceedings at law or in equity, and may provide that a trustee under the security agreement or the holder of any of the bonds secured by the security agreement may become the purchaser at any foreclosure sale, if he or she is the highest bidder. A breach of any such agreement shall not impose pecuniary liability upon this state or the authority or a charge upon the general credit of the authority or of the state or against the taxing power of the state.  (3) A trustee under a security agreement, or a depository specified by a security agreement, may be a person or corporation the authority designates, notwithstanding that the person or corporation may be a nonresident of the state or incorporated under the laws of the United States or any state of the United States. History: 1986, Act 157, Imd. Eff. July 7, 1986
MI Comp L § 447.162 (2021)
2021 Michigan Compiled Laws|Chapter 447 - Foreign Trade|Act 157 of 1986 - Michigan Export Development Act (447.151 - 447.168)|Section 447.162 - Bonds; Refunding.

447.162 Bonds; refunding. Sec. 12.  (1) Bonds issued under this act and at any time outstanding, at any time and from time to time, may be refunded by the authority by the issuance of its refunding bonds in an amount as the authority considers necessary, but not exceeding an amount sufficient to refund the principal of the bonds to be refunded, together with any unpaid interest on the bonds and any premiums, expenses, and commissions necessary to be paid in connection with the bonds. Refunding may be effected whether the bonds to be refunded have matured or will mature in the future, either by sale of the refunding bonds to be refunded or by exchange of the refunding bonds for the bonds to be refunded by the refunding bonds.  (2) The holders of any bonds to be refunded shall not be compelled without their consent to surrender their bonds for payment or exchange before the date on which the bonds are payable, or, if the bonds are called for redemption, before the date on which the bonds are by their terms subject to redemption. All refunding bonds issued under the authority of this section shall be payable in the same manner and under the same terms and conditions as are provided in this act for the issuance of bonds. History: 1986, Act 157, Imd. Eff. July 7, 1986