Michigan § 388.984 - Money repaid by school districts on loans from school loan revolving fund; deposit; assignment of loans or repayments on loans.
Full text of Michigan Michigan Compiled Laws § 388.984 — Money repaid by school districts on loans from school loan revolving fund; deposit; assignment of loans or repayments on loans., with citation guidance and answers to common questions.
§ 388.984. Money repaid by school districts on loans from school loan revolving fund; deposit; assignment of loans or repayments on loans.
Any money repaid by school districts on loans made from the school loan revolving fund established under section 16c of the shared credit rating act, 1985 PA 227, MCL 141.1066c, other than loans or repayments that have been assigned to this state by the Michigan finance authority, shall be deposited in the school loan revolving fund. Unless amounts on deposit in the school loan revolving fund are insufficient for the purpose of making loans to school districts, the state treasurer may satisfy the requirements of section 16 of article IX of the state constitution of 1963 and laws enacted pursuant to that section by causing loans to be made from the school loan revolving fund. The state treasurer may assign repayments on loans previously made from the school bond loan fund before July 20, 2005 to require the deposit of proceeds of sale to the school loan revolving fund. The state treasurer may accept the assignment to this state of loans or repayments on loans made from or payable to the school loan revolving fund.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 388.984
What does Michigan Compiled Laws § 388.984 cover?
Section 388.984 ("Money repaid by school districts on loans from school loan revolving fund; deposit; assignment of loans or repayments on loans.") 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 § 388.984?
A common citation format is "Michigan Compiled Laws § 388.984" (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 § 388.984 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.