Michigan § 388.1937 - False statement or unauthorized use of proceeds; violation as felony; penalty.
Full text of Michigan Michigan Compiled Laws § 388.1937 — False statement or unauthorized use of proceeds; violation as felony; penalty., with citation guidance and answers to common questions.
§ 388.1937. False statement or unauthorized use of proceeds; violation as felony; penalty.
A person who knowingly makes a false statement or conceals material information for the purpose of obtaining qualification of a bond issue under this act or for the purpose of obtaining a qualified loan under this act, or who knowingly uses all or part of the proceeds of a qualified loan obtained under this act for any purpose not authorized by this act, is guilty of a felony punishable by imprisonment for not more than 4 years or a fine of not more than $5,000.00, or both.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 388.1937
What does Michigan Compiled Laws § 388.1937 cover?
Section 388.1937 ("False statement or unauthorized use of proceeds; violation as felony; penalty.") 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 § 388.1937?
A common citation format is "Michigan Compiled Laws § 388.1937" (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 § 388.1937 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.