Michigan § 257.931 - Loans to motor carriers; prerequisites; purpose; loans as investments for state recreational land acquisition trust fund; investigation; determination; applicability of section; condition of loan.
Full text of Michigan Michigan Compiled Laws § 257.931 — Loans to motor carriers; prerequisites; purpose; loans as investments for state recreational land acquisition trust fund; investigation; determination; applicability of section; condition of loan., with citation guidance and answers to common questions.
§ 257.931. Loans to motor carriers; prerequisites; purpose; loans as investments for state recreational land acquisition trust fund; investigation; determination; applicability of section; condition of loan.
The state treasurer shall make loans to motor carriers who have obtained a certificate of public convenience and necessity or a permit to operate as a motor carrier from the Michigan public service commission, and to private carriers who are independent wholesale distributors engaged in the distribution of petroleum products to consumers and retailers by vehicles owned or leased by those private carriers to aid those motor carriers and private carriers in complying with section 722(9), (10), (11), and (12) of Act No. 300 of the Public Acts of 1949, as amended, being section 257.722 of the Michigan Compiled Laws. The loans made under this subsection shall be made before October 1, 1980, and shall be made as investments for the state recreational land acquisition trust fund. These loans shall be made in such amounts and to such applicants as determined by the secretary of state pursuant to its investigation of applications for loans, but without further investigation by the department of treasury.
The department of state shall make loans to motor carriers who have obtained a certificate of public convenience and necessity or a permit to operate as a motor carrier from the Michigan public service commission and to private carriers who are independent wholesale distributors engaged in the distribution of petroleum products to consumers and retailers by vehicles owned or leased by those private carriers to aid those motor carriers and private carriers in complying with section 722(9), (10), (11), and (12) of Act No. 300 of the Public Acts of 1949, as amended. The loans made under this subsection shall be made after September 30, 1980, and shall be made from amounts appropriated to the department of state from the general fund.
This section shall apply only to a carrier who meets the description of this section as of July 1, 1978. A condition of each loan shall be that the carrier use the vehicles modified or replaced with the proceeds of the loan primarily in Michigan while the loan is outstanding.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 257.931
What does Michigan Compiled Laws § 257.931 cover?
Section 257.931 ("Loans to motor carriers; prerequisites; purpose; loans as investments for state recreational land acquisition trust fund; investigation; determination; applicability of section; condition of loan.") 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 § 257.931?
A common citation format is "Michigan Compiled Laws § 257.931" (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 § 257.931 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.