Michigan § 325.856 - Suspension of repayment; duration; preparation, execution, and filing of termination statements and other documents; transfer of unexpended, unencumbered, or unreserved money in fund to general fund.
Full text of Michigan Michigan Compiled Laws § 325.856 — Suspension of repayment; duration; preparation, execution, and filing of termination statements and other documents; transfer of unexpended, unencumbered, or unreserved money in fund to general fund., with citation guidance and answers to common questions.
§ 325.856. Suspension of repayment; duration; preparation, execution, and filing of termination statements and other documents; transfer of unexpended, unencumbered, or unreserved money in fund to general fund.
After a showing of financial need, the requirement for repayment of a loan granted under former Act No. 273 of the Public Acts of 1978 may be suspended for a period of not more than 5 years beginning on January 1, 1983 by the department of treasury.
The department, with the assistance of the department of attorney general, shall prepare, execute, and file all termination statements and other documents necessary to effectuate this section.
All money in the fund which is unexpended, unencumbered, or unreserved at the end of each fiscal year of the state shall be transferred to the general fund of the state.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 325.856
What does Michigan Compiled Laws § 325.856 cover?
Section 325.856 ("Suspension of repayment; duration; preparation, execution, and filing of termination statements and other documents; transfer of unexpended, unencumbered, or unreserved money in fund to general 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 § 325.856?
A common citation format is "Michigan Compiled Laws § 325.856" (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 § 325.856 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.