Michigan § 390.925 - Loans to educational institutions for acquisition, construction, or alteration of educational facilities; conditions.
Full text of Michigan Michigan Compiled Laws § 390.925 — Loans to educational institutions for acquisition, construction, or alteration of educational facilities; conditions., with citation guidance and answers to common questions.
§ 390.925. Loans to educational institutions for acquisition, construction, or alteration of educational facilities; conditions.
The authority may lend money or participate in the lending of money to educational institutions for the acquisition, construction, or alteration of educational facilities. An educational loan for acquisition or alteration shall not be made unless the authority is reasonably satisfied that all of the following conditions exist:
There will be made available to the institution from the loan and other sources all the funds that may be required to complete and pay for the acquisition, construction, or alteration of educational facilities.
The revenues and income generally available and to become available to the institution for allocation to repayment of the loan and interest on the loan when due will be sufficient for repayment.
The facility or alteration is needed, will not result in an unnecessary duplication of existing facilities, and has been well planned.
The facility or alteration is consistent with an orderly development and provision of educational services in the area.
The loan shall not exceed the cost of the acquisition, construction, or alteration of the educational facility and incidental costs related thereto and to the issuance of bonds by the authority to provide funds to make the loan.
The authority may lend money or participate in the lending of money to educational institutions as described in subsection (1) whether the loan is secured or unsecured, if the authority considers the action proper.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 390.925
What does Michigan Compiled Laws § 390.925 cover?
Section 390.925 ("Loans to educational institutions for acquisition, construction, or alteration of educational facilities; conditions.") 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 § 390.925?
A common citation format is "Michigan Compiled Laws § 390.925" (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 § 390.925 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.