Michigan § 331.1415 - State covenants with purchasers, subsequent holders, and transferees of notes and corporation obligations.
Full text of Michigan Michigan Compiled Laws § 331.1415 — State covenants with purchasers, subsequent holders, and transferees of notes and corporation obligations., with citation guidance and answers to common questions.
§ 331.1415. State covenants with purchasers, subsequent holders, and transferees of notes and corporation obligations.
The state covenants with the purchasers and all subsequent holders and transferees of notes and corporation obligations issued pursuant to this act, in consideration of the acceptance of and payment for such notes and corporation obligations issued pursuant to this act and the income therefrom and all gifts, grants, revenues, receipts, and other money received or to be received, pledged to pay or secure the payment of such notes or corporation obligations shall be free and exempt from all state, city, county, or other taxation provided by the laws of this state, except for estate, inheritance and gift taxes, and taxes on transfers.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 331.1415
What does Michigan Compiled Laws § 331.1415 cover?
Section 331.1415 ("State covenants with purchasers, subsequent holders, and transferees of notes and corporation obligations.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 331.1415?
A common citation format is "Michigan Compiled Laws § 331.1415" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 331.1415 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.