Michigan § 141.2304 - Issuance of municipal security; provisions applicable to contracting municipalities.
Full text of Michigan Michigan Compiled Laws § 141.2304 — Issuance of municipal security; provisions applicable to contracting municipalities., with citation guidance and answers to common questions.
§ 141.2304. Issuance of municipal security; provisions applicable to contracting municipalities.
If a municipality issues a municipal security subject to this act and the principal and interest for that municipal security will be paid by 1 or more municipalities not issuing the municipal security under a contract, then 1 of the following applies:
If all of the municipalities contracting to pay the municipal security have been granted qualified status, then the issuance of the municipal security is subject to section 303(2).
Except as provided in subdivision (c), if 1 or more of the municipalities contracting to pay the municipal security have not been granted qualified status, then the issuance of the municipal security is subject to section 303(7).
If 1 or more of the municipalities contracting to pay the municipal security have not been granted qualified status and the other municipalities representing over 50% of the contractual obligation have been granted qualified status and the municipality that issues the municipal security has been granted qualified status and pledges its full faith and credit on the municipal security, then the issuance of the municipal security is subject to section 303(2).
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 141.2304
What does Michigan Compiled Laws § 141.2304 cover?
Section 141.2304 ("Issuance of municipal security; provisions applicable to contracting municipalities.") 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 § 141.2304?
A common citation format is "Michigan Compiled Laws § 141.2304" (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 § 141.2304 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.