Michigan § 388.982 - Sale of refunding bonds, notes, or commercial paper; disposition of proceeds; payment.
Full text of Michigan Michigan Compiled Laws § 388.982 — Sale of refunding bonds, notes, or commercial paper; disposition of proceeds; payment., with citation guidance and answers to common questions.
§ 388.982. Sale of refunding bonds, notes, or commercial paper; disposition of proceeds; payment.
The proceeds of sale of refunding bonds, notes, or commercial paper issued under this act shall be applied as determined by the state administrative board. The proceeds of sale of bonds, notes, or commercial paper issued under this act for the purpose of reimbursing this state or the Michigan finance authority shall be applied as determined by the state administrative board. The proceeds of sale of other bonds, notes, or commercial paper issued under this act shall be deposited in the school loan revolving fund established under section 16c of the shared credit rating act, 1985 PA 227, MCL 141.1066c, and shall be paid out in no other manner or for any other purpose than provided in section 16 of article IX of the state constitution of 1963 and laws enacted pursuant to that section.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 388.982
What does Michigan Compiled Laws § 388.982 cover?
Section 388.982 ("Sale of refunding bonds, notes, or commercial paper; disposition of proceeds; payment.") 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 § 388.982?
A common citation format is "Michigan Compiled Laws § 388.982" (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 § 388.982 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.