reglab/statecodes huggingface dataset:
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 316 of 1986 - Michigan Education Trust Act (390.1421 - 390.1444) › Section 390.1432 - Accounting of Trust Generally.

390.1432 Accounting of trust generally.
Sec. 12.
The board shall annually prepare or cause to be prepared an accounting of the trust and shall transmit a copy of the accounting to the governor, the majority leader of the senate, the speaker of the house of representatives, and the respective minority leaders of the senate and house of representatives. The board shall also make available the accounting of the trust to the purchasers of the trust. The accounts of the board shall be subject to annual audits by the state auditor general or a certified public accountant appointed by the auditor general.
History:
1986, Act 316, Imd. Eff. Dec. 23, 1986
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 316 of 1986 - Michigan Education Trust Act (390.1421 - 390.1444) › Section 390.1433 - Actuarial Soundness of Trust; Ruling or Opinion Internal Revenue Service; Answer From Securities and Exchange Commission; Making Status of Request Known.

390.1433 Actuarial soundness of trust; ruling or opinion internal revenue service; answer from securities and exchange commission; making status of request known.
Sec. 13.
(1) The trust shall be administered in a manner reasonably designed to be actuarially sound such that the assets of the trust will be sufficient to defray the obligations of the trust.
(2) In the accounting of the trust made pursuant to section 12, the trust board shall annually evaluate and cause to be evaluated by a nationally recognized actuary the actuarial soundness of the trust and determine the additional assets needed, if any, to defray the obligations of the trust. If there are not funds sufficient to ensure the actuarial soundness of the trust as determined by the nationally recognized actuary, the trust shall adjust payments of subsequent purchasers to ensure its actuarial soundness. If there are insufficient numbers of new purchasers to ensure the actuarial soundness of a plan of the trust, the available assets of the trust attributable to the plan shall be immediately prorated among the then existing contracts, and these shares shall be applied, at the option of the person to whom the refund is payable or would be payable under the contract upon termination of the contract, either towards the purposes of the contract for a qualified beneficiary or disbursed to the person to whom the refund is payable or would be payable under the contract upon termination of the contract.
(3) An advance tuition payment contract shall not be entered by the trust until the internal revenue service has issued a favorable ruling or opinion that the purchaser of the advance tuition payment contract will not be considered actually or constructively to be in receipt of income. If an unfavorable ruling or opinion with regard to this issue is rendered by the internal revenue service, the board shall present a report to the legislature outlining recommendations for the modification and continuance of the program, including a recommendation of whether the trust may offer contracts on behalf of itself to provide for the advance purchase of incremental portions of the number of credit hours necessary for a baccalaureate degree.
(4) Before entering into advance tuition payment contracts with purchasers, the state shall solicit answers to appropriate ruling requests from the securities and exchange commission regarding the application of federal security laws to the trust. No contracts shall be entered without the authority making known the status of the request.
History:
1986, Act 316, Imd. Eff. Dec. 23, 1986
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 316 of 1986 - Michigan Education Trust Act (390.1421 - 390.1444) › Section 390.1434 - Enforcement of Act and Contract.

390.1434 Enforcement of act and contract.
Sec. 14.
State institutions of higher education, purchasers, and qualified beneficiaries may enforce this act and any contract entered into pursuant to this act in the circuit court for Ingham county.
History:
1986, Act 316, Imd. Eff. Dec. 23, 1986
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 316 of 1986 - Michigan Education Trust Act (390.1421 - 390.1444) › Section 390.1435 - Exemption From Taxation.

390.1435 Exemption from taxation.
Sec. 15.
The property of the trust and its income and operation shall be exempt from all taxation by this state or any of its political subdivisions.
History:
1986, Act 316, Imd. Eff. Dec. 23, 1986
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 316 of 1986 - Michigan Education Trust Act (390.1421 - 390.1444) › Section 390.1436 - Contracting Services Necessary for Management and Operation of Trust; Instituting Programs to Ensure Full Tuition Prepayment Plans; Report to Legislature.

390.1436 Contracting services necessary for management and operation of trust; instituting programs to ensure full tuition prepayment plans; report to legislature.
Sec. 16.
The trust, in its discretion, may contract with others, public or private, for the provision of all or a portion of the services necessary for the management and operation of the trust. The trust shall also endeavor to work with private sector investment managers, state institutions of higher education, and independent degree-granting colleges and universities in this state to study the feasibility of instituting programs between these parties that insure full tuition payment upon purchase of a prepayment plan. The trust shall evaluate the feasibility and actuarial soundness of a prepayment plan exclusively for community and junior colleges. The board shall submit a report to the legislature before December 31, 1988 regarding its success at instituting programs between private sector investment managers, state institutions of higher education, and independent degree-granting colleges and universities of the state that insure full tuition prepayment plans.
History:
1986, Act 316, Imd. Eff. Dec. 23, 1986
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 316 of 1986 - Michigan Education Trust Act (390.1421 - 390.1444) › Section 390.1437 - Preserving, Investing, and Expending Assets of Trust.

390.1437 Preserving, investing, and expending assets of trust.
Sec. 17.
The assets of the trust shall be preserved, invested, and expended solely pursuant to and for the purposes set forth in this act and shall not be loaned or otherwise transferred or used by the state for any purpose other than the purposes of this act. This section shall not be construed to prohibit the trust from investing in, by purchase or otherwise, bonds, notes, or other obligations of the state, an agency of the state, or an instrumentality of the state.
History:
1986, Act 316, Imd. Eff. Dec. 23, 1986
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 316 of 1986 - Michigan Education Trust Act (390.1421 - 390.1444) › Section 390.1438 - Prohibited Promises or Guarantees.

390.1438 Prohibited promises or guarantees.
Sec. 18.
Nothing in this act or in an advance tuition payment contract entered into pursuant to this act shall be construed as a promise or guarantee by the trust or the state that a person will be admitted to a state institution of higher education or to a particular state institution of higher education, will be allowed to continue to attend a state institution of higher education after having been admitted, or will be graduated from a state institution of higher education.
History:
1986, Act 316, Imd. Eff. Dec. 23, 1986
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 316 of 1986 - Michigan Education Trust Act (390.1421 - 390.1444) › Section 390.1439 - Exemption of Contract From Uniform Securities Act; Sale or Transfer of Contract.

390.1439 Exemption of contract from uniform securities act; sale or transfer of contract.
Sec. 19.
An advance tuition payment contract is exempt from the uniform securities act, 1964 PA 265, MCL 451.501 to 451.818, and the uniform securities act (2002), 2008 PA 551, MCL 451.2101 to 451.2703. An advance tuition payment contract may not be sold or otherwise transferred by the purchaser or qualified beneficiary without the prior approval of the trust.
History:
1986, Act 316, Imd. Eff. Dec. 23, 1986 ;-- Am. 2009, Act 96, Imd. Eff. Sept. 24, 2009
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 316 of 1986 - Michigan Education Trust Act (390.1421 - 390.1444) › Section 390.1440 - Payments Deductible From Taxable Income.

390.1440 Payments deductible from taxable income.
Sec. 20.
Pursuant to section 30 of the income tax act of 1967, Act No. 281 of the Public Acts of 1967, being section 206.30 of the Michigan Compiled Laws, the purchaser may deduct from taxable income the following payments made by the purchaser in the tax year:
(a) The amount of payment made under an advance tuition payment contract.
(b) The amount of payment made under a contract with a private sector investment manager that meets all of the following criteria:
(i) The contract is certified and approved by the board to provide equivalent benefits and rights to purchasers and beneficiaries as an advance tuition payment contract.
(ii) The contract applies only for a state institution of higher education or a community or junior college.
(iii) The contract provides for enrollment by the contract's qualified beneficiary in not less than 4 years after the date on which the contract is entered into.
(iv) The contract is entered into either:
(A) After the purchaser has had his or her offer to enter into an advance tuition payment contract rejected by the board, if the board determines that the trust cannot accept an unlimited number of enrollees upon an actuarially sound basis.
(B) After the board determines that the trust can accept an unlimited number of enrollees upon an actuarially sound basis.
History:
1986, Act 316, Imd. Eff. Dec. 23, 1986
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 316 of 1986 - Michigan Education Trust Act (390.1421 - 390.1444) › Section 390.1441 - Liberal Construction; Powers to Be Broadly Interpreted.

390.1441 Liberal construction; powers to be broadly interpreted.
Sec. 21.
This act shall be construed liberally to effectuate the legislative intent, the purposes of the act, and as complete and independent authority for the performance of each and every act and thing authorized in the act, and all powers granted in the act shall be broadly interpreted to effectuate such intent and purposes and not as to limitation of powers.
History:
1986, Act 316, Imd. Eff. Dec. 23, 1986
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 316 of 1986 - Michigan Education Trust Act (390.1421 - 390.1444) › Section 390.1442 - Severability.

390.1442 Severability.
Sec. 22.
If any section, subsection, paragraph, clause, or provision of this act shall be adjudged unconstitutional or ineffective, no other section, subsection, paragraph, clause, or provision of this act shall on account thereof be considered invalid or ineffective, and the applicability or invalidity of any section, subsection, paragraph, clause, or provision of this act in any 1 or more instances or under any 1 or more circumstances shall not be taken to affect or prejudice its applicability or validity in any other instance or under any other circumstance.
History:
1986, Act 316, Imd. Eff. Dec. 23, 1986
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 316 of 1986 - Michigan Education Trust Act (390.1421 - 390.1444) › Section 390.1443, 390.1444 - Repealed. 2004, Act 388, Imd. Eff. Oct. 12, 2004.

390.1443, 390.1444 Repealed. 2004, Act 388, Imd. Eff. Oct. 12, 2004.
Compiler's Notes:
The repealed sections pertained to condition to entering contract and conditional repeal of act.
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Repealed - Act 94 of 1999 - Michigan Merit Award Scholarship Act (390.1451 - 390.1459)

MICHIGAN MERIT AWARD SCHOLARSHIP ACT
Act 94 of 1999
390.1451-390.1459 Repealed. 2006, Act 479, Eff. Sept. 30, 2017.
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 161 of 2000 - Michigan Education Savings Program Act (390.1471 - 390.1486) › Section 390.1471 - Short Title.

390.1471 Short title.
Sec. 1.
This act shall be known and may be cited as the "Michigan education savings program act".
History:
2000, Act 161, Imd. Eff. June 16, 2000
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 161 of 2000 - Michigan Education Savings Program Act (390.1471 - 390.1486) › Section 390.1474 - Management Contract; Supervision by Treasurer.

390.1474 Management contract; supervision by treasurer.
Sec. 4.
The treasurer shall be responsible for the ongoing supervision of each management contract in consultation with the board.
History:
2000, Act 161, Imd. Eff. June 16, 2000 ;-- Am. 2007, Act 153, Imd. Eff. Dec. 20, 2007
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 161 of 2000 - Michigan Education Savings Program Act (390.1471 - 390.1486) › Section 390.1475 - Management Contract; Term; Termination.

390.1475 Management contract; term; termination.
Sec. 5.
(1) A management contract shall be for a term of years specified in the management contract.
(2) The treasurer may terminate a management contract based on the criteria specified in the management contract.
History:
2000, Act 161, Imd. Eff. June 16, 2000 ;-- Am. 2007, Act 153, Imd. Eff. Dec. 20, 2007
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 161 of 2000 - Michigan Education Savings Program Act (390.1471 - 390.1486) › Section 390.1476 - Contracts.

390.1476 Contracts.
Sec. 6.
The treasurer may enter into contracts that it considers necessary and proper for the implementation of this program.
History:
2000, Act 161, Imd. Eff. June 16, 2000
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 161 of 2000 - Michigan Education Savings Program Act (390.1471 - 390.1486) › Section 390.1478 - Account Owner or Beneficiary; Changes; Transfer.

390.1478 Account owner or beneficiary; changes; transfer.
Sec. 8.
(1) An account owner may designate another individual as a successor owner of the account in the event of the death of the account owner.
(2) An account owner may change the designated beneficiary of an account to a member of the family of the previously designated beneficiary as provided in the management contract or as otherwise provided in this act.
(3) An account owner may transfer ownership of all or a portion of an account to an individual or entity that is eligible to be an account owner under this act.
(4) An account owner may transfer all or a portion of an account to another education savings account. The designated beneficiary of the account to which the transfer is made must be a member of the family.
(5) An account owner may transfer all or a portion of an account to an account in a qualified tuition program under section 529 of the internal revenue code, other than the program under this act, once every 12 months, without a change in designated beneficiary.
(6) Changes in designated beneficiaries and transfers under this section are not permitted to the extent that the change or transfer would constitute excess contributions or unauthorized investment choices.
History:
2000, Act 161, Imd. Eff. June 16, 2000 ;-- Am. 2001, Act 215, Eff. Jan. 1, 2002 ;-- Am. 2004, Act 387, Imd. Eff. Oct. 12, 2004
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 161 of 2000 - Michigan Education Savings Program Act (390.1471 - 390.1486) › Section 390.1479 - Account Owner or Beneficiary; Direction of Contributions or Earnings; Selection of Investment Strategy; Contributions by Board Members or Employees; Use of Interest; Restriction.

390.1479 Account owner or beneficiary; direction of contributions or earnings; selection of investment strategy; contributions by board members or employees; use of interest; restriction.
Sec. 9.
(1) Except as otherwise provided in this section, an account owner or a designated beneficiary of any account shall not direct the investment of any contributions to an account or the earnings on an account.
(2) An account owner may select among different investment strategies designed by a program manager to the extent allowed under section 529 of the internal revenue code.
(3) The program may allow board members or employees of the program, or the board members or employees of a contractor hired by the program to perform administrative services, to make contributions to an account.
(4) An interest in an account shall not be used by an account owner or a designated beneficiary as security for a loan. Any pledge of an interest in an account has no force or effect.
History:
2000, Act 161, Imd. Eff. June 16, 2000 ;-- Am. 2001, Act 215, Eff. Jan. 1, 2002 ;-- Am. 2004, Act 387, Imd. Eff. Oct. 12, 2004 ;-- Am. 2007, Act 153, Imd. Eff. Dec. 20, 2007 ;-- Am. 2016, Act 51, Imd. Eff. Mar. 22, 2016
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 161 of 2000 - Michigan Education Savings Program Act (390.1471 - 390.1486) › Section 390.1480 - Maximum Account Balance Limit; Limitation; Rejection of Contribution to Designated Beneficiary Account; Total Balance of All Accounts.

390.1480 Maximum account balance limit; limitation; rejection of contribution to designated beneficiary account; total balance of all accounts.
Sec. 10.
(1) The maximum account balance limit for all of the accounts that name any 1 individual as the designated beneficiary shall not exceed a maximum of $500,000.00.
(2) The program shall reject a contribution to any account for a designated beneficiary if, at the time of the contribution, the total balance of all accounts for that designated beneficiary has reached the maximum account balance limit under subsection (1). Accounts may continue to accrue earnings if the total balance of all accounts for that beneficiary has reached the maximum account balance limit and shall not be considered to have exceeded the maximum account balance limit under subsection (1). For purposes of this subsection, the total balance of all accounts for that designated beneficiary includes the amount of payment or payments required from a purchaser on behalf of a qualified beneficiary made under an advance tuition payment contract as provided in the Michigan education trust act, 1986 PA 316, MCL 390.1421 to 390.1442, if the designated beneficiary is also the qualified beneficiary.
History:
2000, Act 161, Imd. Eff. June 16, 2000 ;-- Am. 2001, Act 215, Eff. Jan. 1, 2002 ;-- Am. 2015, Act 163, Eff. Jan. 26, 2016
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 161 of 2000 - Michigan Education Savings Program Act (390.1471 - 390.1486) › Section 390.1481 - Account Distributions; Report to Internal Revenue Service and Account Owner; Statements.

390.1481 Account distributions; report to internal revenue service and account owner; statements.
Sec. 11.
(1) Each program manager shall report distributions from an account to any individual or for the benefit of any individual during a tax year to the internal revenue service and the account owner or, to the extent required by federal law or regulation, to the distributee.
(2) Each program manager shall provide statements that identify the individual contributions made during the tax year, the total contributions made to the account for the tax year, the value of the account at the end of the tax year, distributions made during the tax year, and any other information that the treasurer requires to each account owner on or before the January 31 following the end of each calendar year.
History:
2000, Act 161, Imd. Eff. June 16, 2000 ;-- Am. 2007, Act 153, Imd. Eff. Dec. 20, 2007
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 161 of 2000 - Michigan Education Savings Program Act (390.1471 - 390.1486) › Section 390.1482 - Disclosure of Information.

390.1482 Disclosure of information.
Sec. 12.
Each program manager shall disclose the following information in writing to each account owner of an education savings account and any other person who requests information about an education savings account:
(a) The terms and conditions for establishing an education savings account.
(b) Restrictions on the substitutions of designated beneficiaries and transfer of account funds.
(c) The person or entity entitled to terminate a Michigan education savings program agreement.
(d) The period of time during which a designated beneficiary may receive benefits under the Michigan education savings program agreement.
(e) The terms and conditions under which money may be wholly or partially withdrawn from an account or the program, including, but not limited to, any reasonable charges and fees and penalties that may be imposed for withdrawal.
(f) The potential tax consequences associated with contributions to and distributions and withdrawals from accounts.
(g) Investment history and potential growth of account funds and a projection of the impact of the growth of the account funds on the maximum amount allowable in an account.
(h) All other rights and obligations under Michigan education savings program agreements and any other terms, conditions, and provisions of a contract or an agreement entered into under this act.
History:
2000, Act 161, Imd. Eff. June 16, 2000 ;-- Am. 2007, Act 153, Imd. Eff. Dec. 20, 2007
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 161 of 2000 - Michigan Education Savings Program Act (390.1471 - 390.1486) › Section 390.1483 - Construction or Interpretation of Act and Agreement.

390.1483 Construction or interpretation of act and agreement.
Sec. 13.
This act and any agreement under this act shall not be construed or interpreted to do any of the following:
(a) Give any designated beneficiary any rights or legal interest with respect to an account unless the designated beneficiary is the account owner.
(b) Guarantee that a designated beneficiary will be admitted to an eligible educational institution or, upon admission to an eligible educational institution, will be permitted to continue to attend or will receive a degree from the eligible educational institution.
(c) Give residency status to an individual merely because the individual is a designated beneficiary.
(d) Guarantee that amounts contributed to an account will be sufficient to cover the qualified higher education expenses of a designated beneficiary.
History:
2000, Act 161, Imd. Eff. June 16, 2000
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 161 of 2000 - Michigan Education Savings Program Act (390.1471 - 390.1486) › Section 390.1484 - Obligation Upon State, Agency, or Instrumentality of State.

390.1484 Obligation upon state, agency, or instrumentality of state.
Sec. 14.
(1) This act does not create and shall not be construed to create any obligation upon this state or any agency or instrumentality of this state to guarantee for the benefit of an account owner or designated beneficiary any of the following:
(a) The rate of interest or other return on an account.
(b) The payment of interest or other return on an account.
(2) The contracts, applications, deposit slips, and other similar documents used in connection with a contribution to an account shall clearly indicate that the account is not insured by this state and that the money deposited into and investment return earned on an account are not guaranteed by this state.
History:
2000, Act 161, Imd. Eff. June 16, 2000
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 161 of 2000 - Michigan Education Savings Program Act (390.1471 - 390.1486) › Section 390.1485 - Annual Report.

390.1485 Annual report.
Sec. 15.
Each program manager shall file an annual report with the treasurer and the board that includes all of the following:
(a) The names and identification numbers of account owners, designated beneficiaries, and distributees of family tuition accounts. The information reported pursuant to this subdivision is not subject to the freedom of information act, 1976 PA 442, MCL 15.231 to 15.246.
(b) The total amount contributed to all accounts during the year.
(c) All distributions from all accounts and whether or not each distribution was a qualified withdrawal.
(d) Any information that the program manager or treasurer may require regarding the taxation of amounts contributed to or withdrawn from accounts.
History:
2000, Act 161, Imd. Eff. June 16, 2000 ;-- Am. 2007, Act 153, Imd. Eff. Dec. 20, 2007
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 161 of 2000 - Michigan Education Savings Program Act (390.1471 - 390.1486) › Section 390.1486 - Contributions and Interest Earned as Tax Exempt; Withdrawals as Taxable.

390.1486 Contributions and interest earned as tax exempt; withdrawals as taxable.
Sec. 16.
(1) Contributions to and interest earned on an education savings account are exempt from taxation as provided in sections 30 and 30f of the income tax act of 1967, 1967 PA 281, MCL 206.30 and 206.30f.
(2) Withdrawals made from education savings accounts are taxable as provided in section 30 of the income tax act of 1967, 1967 PA 281, MCL 206.30.
History:
2000, Act 161, Imd. Eff. June 16, 2000
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 477 of 1988 - Student Athletes (390.1501 - 390.1504) › Section 390.1501 - Definitions.

390.1501 Definitions.
Sec. 1.
As used in this act:
(a) "Department" means the department of education.
(b) "Immediate family" means the student athlete's spouse, child, parent, stepparent, grandparent, grandchild, brother, sister, parent-in-law, brother-in-law, sister-in-law, nephew, niece, aunt, uncle, first cousin, or the spouse or guardian of any of the persons described in this subdivision.
(c) "Institution of higher education" means a public or private college or university in this state.
(d) "Student athlete" means a person who engages in, is eligible to engage in, or may be eligible to engage in any intercollegiate sporting event, contest, exhibition, or program. The term also includes an individual who has applied, is eligible to apply, or who may be eligible to apply in the future to an institution of higher education.
History:
1988, Act 477, Eff. Mar. 30, 1989
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 477 of 1988 - Student Athletes (390.1501 - 390.1504) › Section 390.1502 - Student Athlete or Immediate Family Member; Giving or Promising Money or Things of Value; Prohibited Purposes; Aiding and Abetting; “Person” Defined; Violation as Misdemeanor; Penalty.

390.1502 Student athlete or immediate family member; giving or promising money or things of value; prohibited purposes; aiding and abetting; “person” defined; violation as misdemeanor; penalty.
Sec. 2.
(1) Except as provided in subsection (3), a person shall not give, offer, promise, or attempt to give any money or other thing of value to a student athlete or immediate family member of a student athlete for either of the following purposes:
(a) To induce, encourage, or reward the student athlete's application, enrollment, or attendance at an institution of higher education in order to have the student athlete participate in intercollegiate sporting events, contests, exhibitions, or programs at that institution.
(b) To induce, encourage, or reward the student athlete's participation in an intercollegiate sporting event, contest, exhibition, or program.
(2) A person shall not aid or abet any act described in subsection (1).
(3) As used in subsection (1), "person" does not include any of the following:
(a) An institution of higher education or any of its officers or employees if the institution, officer, or employee is acting in accordance with an official written policy of the institution which is in compliance with rules promulgated by the department.
(b) An intercollegiate athletic award approved or administered by the institution of higher education that the student athlete attends.
(c) An immediate family member of the student athlete.
(4) Except as provided in subsection (3), a person who engages in conduct knowing or having reason to know that the conduct is in violation of this section is guilty of a misdemeanor, punishable by a fine of not more than $50,000.00, or 3 times the amount given, offered, or promised to the student athlete or immediate family member of the student athlete, whichever is greater, or not more than 1 year imprisonment, or both. The prosecuting attorney of a county where a violation of this section occurs shall enforce this section.
History:
1988, Act 477, Eff. Mar. 30, 1989
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 477 of 1988 - Student Athletes (390.1501 - 390.1504) › Section 390.1503 - Student Athlete or Immediate Family Member; Soliciting or Accepting Money or Things of Value; Prohibited Purposes; Aiding or Abetting; Applicability of Section; Violation as Misdemeanor; Penalty; Enforcement.

390.1503 Student athlete or immediate family member; soliciting or accepting money or things of value; prohibited purposes; aiding or abetting; applicability of section; violation as misdemeanor; penalty; enforcement.
Sec. 3.
(1) Except as provided in subsection (2), a student athlete or member of his or her immediate family, shall not solicit or accept money or anything of value for any of the purposes described in section 2(1). A person shall not aid or abet any act described in this subsection.
(2) This section does not apply to money or other things of value that a student athlete receives from any of the following:
(a) An institution of higher education, its officers, or employees if the institution, officer or employee offered money or anything of value in accordance with an official written policy of the institution which is in compliance with rules promulgated by the department.
(b) An intercollegiate athletic award approved or administered by that institution.
(c) A member of the immediate family of the student athlete.
(3) Except as provided in subsection (2), a person who engages in conduct knowing or having reason to know that the conduct violates this section is guilty of a misdemeanor punishable by a fine of not more than $1,000.00 or an amount equal to the amount accepted by the student athlete or immediate family member, whichever is greater. The prosecuting attorney of a county in which the violation occurs shall enforce this section.
History:
1988, Act 477, Eff. Mar. 30, 1989
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 477 of 1988 - Student Athletes (390.1501 - 390.1504) › Section 390.1504 - Rules.

390.1504 Rules.
Sec. 4.
The department shall promulgate rules to establish standards for the giving and receiving of money and things of value as described in sections 2(1) and 3(1), pursuant to the administrative procedures act of 1969, Act No. 306 of the Public Acts of 1969, being sections 24.201 to 24.328 of the Michigan Compiled Laws.
History:
1988, Act 477, Eff. Mar. 30, 1989
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 120 of 1990 - Public Safety Officers (390.1511 - 390.1514) › Section 390.1511 - Public Safety Officers; Powers and Authority; Determination; Public Safety Department Oversight Committee.

390.1511 Public safety officers; powers and authority; determination; public safety department oversight committee.
Sec. 1.
(1) The governing board of control of a public 4-year institution of higher education created under article VIII of the state constitution of 1963 may grant the public safety officers of the institution the same powers and authority as are granted by law to peace and police officers to enable the public safety officers to enforce state law and the ordinances and regulations of the institution of higher education. Public safety officers to whom the powers and authority of peace and police officers are granted under this section shall be considered peace officers of this state and shall have the authority of police officers provided under the Michigan vehicle code, Act No. 300 of the Public Acts of 1949, being sections 257.1 to 257.923 of the Michigan Compiled Laws.
(2) The determination by a governing board of control of an institution of higher education whether to grant the powers and authority described in subsection (1) to the public safety officers of the institution shall be made only after the governing board of control has held not less than 2 public hearings regarding that determination.
(3) The governing board of control of an institution of higher education shall not grant the powers and authority described in subsection (1) to the public safety officers of the institution unless, before those powers and authority are granted, the governing board provides for the establishment of a public safety department oversight committee. The committee shall be comprised of individuals nominated and elected by the faculty, students, and staff of the institution. The committee shall include 2 students, 2 members of the faculty, and 2 members of the staff. The committee shall receive and address grievances by persons against the public safety officers or the public safety department of the institution. The committee may recommend to the institution that disciplinary measures be taken by the institution against a public safety officer who is found responsible for misconduct in office.
History:
1990, Act 120, Eff. Mar. 28, 1991
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 120 of 1990 - Public Safety Officers (390.1511 - 390.1514) › Section 390.1512 - Public Safety Officers; Jurisdiction.

390.1512 Public safety officers; jurisdiction.
Sec. 2.
(1) The jurisdiction of public safety officers to whom the powers and authority of peace and police officers are granted under section 1 shall include all property owned or leased by the institution of higher education or the governing board of control, wherever situated in this state, and this jurisdiction shall extend to any public right of way traversing or immediately contiguous to the property. The jurisdiction of these public safety officers may be extended by state law governing peace officers if authorized by the governing board of control.
(2) This act does not limit the jurisdiction of state, county, or municipal peace officers.
History:
1990, Act 120, Eff. Mar. 28, 1991
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 120 of 1990 - Public Safety Officers (390.1511 - 390.1514) › Section 390.1513 - Public Safety Officers; Minimum Employment Standards.

390.1513 Public safety officers; minimum employment standards.
Sec. 3.
Public safety officers to whom the powers and authority of peace and police officers are granted under section 1 shall meet the minimum employment standards of the Michigan law enforcement officers training council act of 1965, Act No. 203 of the Public Acts of 1965, being sections 28.601 to 28.616 of the Michigan Compiled Laws.
History:
1990, Act 120, Eff. Mar. 28, 1991
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 120 of 1990 - Public Safety Officers (390.1511 - 390.1514) › Section 390.1514 - Monthly Uniform Crime Report.

390.1514 Monthly uniform crime report.
Sec. 4.
The public safety department of each public 4-year institution of higher education created under article VIII of the state constitution of 1963, whether or not the public safety officers in the public safety department are granted powers and authority under section 1(1), shall submit monthly uniform crime reports pertaining to crimes within the department's jurisdiction to the department of state police as prescribed in section 1 of Act No. 319 of the Public Acts of 1968, being section 28.251 of the Michigan Compiled Laws.
History:
1990, Act 120, Eff. Mar. 28, 1991
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 195 of 1990 - Midwestern Higher Education Compact (390.1531 - 390.1532) › Section 390.1532 - State's Members of Midwestern Higher Education Commission; Nonvoting Member; Vacancy.

390.1532 State's members of midwestern higher education commission; nonvoting member; vacancy.
Sec. 2.
(1) The state's members of the midwestern higher education commission created in section 1 shall be all of the following:
(a) The governor or the governor's designee.
(b) One member of the senate, appointed by the senate majority leader.
(c) One member of the house of representatives, appointed by the speaker of the house of representatives.
(d) Two at-large members, appointed by the governor.
(2) In addition to the state's members listed in subsection (1), the governor shall appoint the designee of the state board of education to serve as a nonvoting member of the state's delegation. This individual is not a member of the midwestern higher education commission and does not have a vote in decisions made by the state's members.
(3) A vacancy in a position in the state's delegation to the midwestern higher education commission shall be filled for the remainder of the unexpired term in the same manner as that specific position was filled under subsection (1).
History:
1990, Act 195, Imd. Eff. July 25, 1990
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 197 of 2003 - College and University Electronic Textbook Act (390.1541 - 390.1543) › Section 390.1541 - Short Title.

390.1541 Short title.
Sec. 1.
This act shall be known and may be cited as the "college and university electronic textbook act".
History:
2003, Act 197, Imd. Eff. Nov. 10, 2003
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 197 of 2003 - College and University Electronic Textbook Act (390.1541 - 390.1543) › Section 390.1542 - Definitions.

390.1542 Definitions.
Sec. 2.
As used in this act:
(a) "College or university" means a degree or certificate granting public or private college or university, junior college, or community college located in this state.
(b) "Textbook" includes a text published in electronic media that is used for instructional purposes.
History:
2003, Act 197, Imd. Eff. Nov. 10, 2003
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 197 of 2003 - College and University Electronic Textbook Act (390.1541 - 390.1543) › Section 390.1543 - Availability of Textbook in Electronic Version.

390.1543 Availability of textbook in electronic version.
Sec. 3.
Upon request, a publisher of a textbook that is adopted for instructional use at a college or university shall furnish the college or university with an electronic version of the textbook if the textbook is for a literary subject or, for a textbook for a nonliterary subject, if the technology is available to convert the textbook directly to a format compatible with braille translation software. A publisher shall not charge a price for this electronic version that exceeds the price it charges for the print or electronic media version of the textbook.
History:
2003, Act 197, Imd. Eff. Nov. 10, 2003
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 55 of 1994 - Confidential Research and Investment Information Act (390.1551 - 390.1557) › Section 390.1551 - Short Title.

390.1551 Short title.
Sec. 1.
This act shall be known and may be cited as the "confidential research and investment information act".
History:
1994, Act 55, Imd. Eff. Apr. 5, 1994 ;-- Am. 2004, Act 86, Imd. Eff Apr. 22, 2004
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 55 of 1994 - Confidential Research and Investment Information Act (390.1551 - 390.1557) › Section 390.1552 - Definitions.

390.1552 Definitions.
Sec. 2.
As used in this act:
(a) "Commercial information" means information regarding the purchase and sale of goods and services, including, but not limited to, information regarding marketing strategy, production data, assessments of goods and services, mineral exploration records, and compilations of data regarding commercial activity.
(b) "Financial information" means information regarding finances, including, but not limited to, assets, income, liabilities, net worth, bank balances, financial history or activities, or creditworthiness.
(c) "Intellectual property" means all original data, findings, or other products of the mind or intellect commonly associated with claims, interests, and rights that are protected under trade secret, patent, trademark, copyright, or unfair competition law.
(d) "Investment" means the utilization of money or other assets in the expectation of future returns in the form of income or capital gain.
(e) "Investment fiduciary" means a person who exercises any discretionary authority or control over an investment of a public university or college or renders investment advice for a public university or college for a fee or other direct or indirect compensation.
(f) "Investment information" means information that has not been publicly disseminated or that is unavailable from other sources, the release of which might cause a portfolio company or an investment fiduciary significant competitive harm. Investment information includes, but is not limited to, financial performance data and projections, financial statements, list of coinvestors and their level of investment, product and market data, rent rolls, and leases.
(g) "Portfolio company" means an entity in which an investment fiduciary has made or considered an investment on behalf of a public university or college.
(h) "Public university or college" means a university, college, or community college established under section 5, 6, or 7 of article VIII of the state constitution of 1963.
(i) "Record" means all or part of a writing, as that term is defined in section 2 of the freedom of information act, 1976 PA 442, MCL 15.232.
(j) "Trade secret" means information consisting of a valuable unpatented formula, pattern, device, or process, or other information that is used in a business and gives the possessor of the information a competitive advantage over those who do not know or use the information, and for which sufficient measures have been taken to guard the secrecy of the information and preserve its confidentiality, and that does not encompass information that is readily ascertainable by competitors or the general public without undue difficulty or hardship.
History:
1994, Act 55, Imd. Eff. Apr. 5, 1994 ;-- Am. 2004, Act 86, Imd. Eff. Apr. 22, 2004
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 55 of 1994 - Confidential Research and Investment Information Act (390.1551 - 390.1557) › Section 390.1554a - Records Received, Prepared, Used, or Retained by Investment Fiduciary; Confidentiality.

390.1554a Records received, prepared, used, or retained by investment fiduciary; confidentiality.
Sec. 4a.
(1) Subject to subsection (2), a record received, prepared, used, or retained by an investment fiduciary in connection with an investment or potential investment of a public university or college that relates to investment information pertaining to a portfolio company in which the investment fiduciary has invested or has considered an investment that is considered by the portfolio company and acknowledged by the investment fiduciary as confidential, or that relates to investment information whether prepared by or for the investment fiduciary regarding loans and assets directly owned by the investment fiduciary and acknowledged by the investment fiduciary as confidential, is exempt from the disclosure requirements of the freedom of information act, 1976 PA 442, MCL 15.231 to 15.246, if at least annually the public university or college provides to its governing board, and makes available to the public, a report of its investments that includes all of the following:
(a) The name of each portfolio company in which the public university or college invested during the reporting period.
(b) The aggregate amount of money invested by the public university or college in portfolio companies during the reporting period.
(c) The rate of return realized during the reporting period on the investments of the public university or college in portfolio companies.
(d) The source of any public funds invested by the public university or college in portfolio companies during the reporting period.
(2) If a record described in subsection (1) is an agreement or instrument to which an investment fiduciary is a party, only those parts of the record that contain investment information are exempt from the disclosure requirements of the freedom of information act, 1976 PA 442, MCL 15.231 to 15.246.
History:
Add. 2004, Act 86, Imd. Eff. Apr. 22, 2004
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 55 of 1994 - Confidential Research and Investment Information Act (390.1551 - 390.1557) › Section 390.1555 - Ability to Engage in Independent Projects Not Limited.

390.1555 Ability to engage in independent projects not limited.
Sec. 5.
This act does not limit the ability of a person employed by or under contract to a public university or college to engage in lawful projects independent of a public university or college, or prohibit such a person from disclosing information regarding those independent projects or from receiving pecuniary income from those independent projects.
History:
1994, Act 55, Imd. Eff. Apr. 5, 1994
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 55 of 1994 - Confidential Research and Investment Information Act (390.1551 - 390.1557) › Section 390.1556 - Construction of Certain Provisions of Act.

390.1556 Construction of certain provisions of act.
Sec. 6.
The provisions of this act exempting information from disclosure shall be strictly construed.
History:
1994, Act 55, Imd. Eff. Apr. 5, 1994
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 55 of 1994 - Confidential Research and Investment Information Act (390.1551 - 390.1557) › Section 390.1557 - Response to Request for Information; Procedures.

390.1557 Response to request for information; procedures.
Sec. 7.
A person receiving a request under 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, for information exempt from disclosure under this act shall comply with the procedures and requirements of Act No. 442 of the Public Acts of 1976 in responding to the request and shall also provide to the person making the request a general written description of the information and a written explanation of the reason the request has been denied.
History:
1994, Act 55, Imd. Eff. Apr. 5, 1994
2023 Michigan Compiled Laws › Chapter 390 - Universities and Colleges › Act 36 of 2002 - Career Development and Distance Learning Act (390.1571 - 390.1579) › Section 390.1571 - Short Title.

390.1571 Short title.
Sec. 1.
This act shall be known and may be cited as the "career development and distance learning act".
History:
2002, Act 36, Imd. Eff. Mar. 7, 2002
Compiler's Notes:
For transfer of powers and duties of the director of the department of career development to the department of labor and economic growth, see E.R.O. No. 2003-1, compiled at MCL 445.2011.