Michigan § 211.770 - Special revolving fund.
Full text of Michigan Michigan Compiled Laws § 211.770 — Special revolving fund., with citation guidance and answers to common questions.
§ 211.770. Special revolving fund.
There is created a special revolving fund within the department to pay special assessments under this act and the sum of $3,000,000.00 of the principal of the Michigan veterans' trust fund shall be used for this investment purpose.
An amount which is paid by the department to a local assessment district for a deferred special assessment shall be paid from the special revolving fund created in subsection (1).
From the amounts received by the department as payment for deferred special assessments under this act, the department shall credit, on a quarterly basis, 1/2 of the total amount received to the special revolving fund created in this section, and shall transmit the remainder of this quarterly payment to the Michigan veterans' trust fund.
Interest received pursuant to section 8a, and civil penalties received pursuant to section 2, shall be credited in full to the special revolving fund created in this section.
Amounts required to be transmitted to the Michigan veterans' trust fund under subsection (3) shall be reduced by the amount of principal and earnings which was returned to the Michigan veterans' trust fund before the effective date of this subsection.
Frequently Asked Questions About Michigan § 211.770
What does Michigan Compiled Laws § 211.770 cover?
Section 211.770 ("Special revolving fund.") 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 § 211.770?
A common citation format is "Michigan Compiled Laws § 211.770" (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 § 211.770 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.