Mich. Comp. Laws § 447.201
Short title.
This act shall be known and may be cited as the “Michigan farm export act”.
Michigan Compiled Laws — MICHIGAN FARM EXPORT ACT (Act 359 of 1990)
Michigan · statute · 359 of 1990, Mich. Comp. Laws · 7 active provisions
Provisions
Mich. Comp. Laws § 447.202
Definitions.
As used in this act: (a) “Department” means the department of agriculture. (b) “Director” means the director of the department of agriculture. (c) “Person” means an individual, corporation, association, partnership, governmental agency, or any other legal entity. (d) “Qualifying financial institution” means a state or…
Mich. Comp. Laws § 447.203
Michigan farm export loan program; creation; administration; purpose.
The Michigan farm export loan program is created and shall be administered by the department for the purpose of enhancing and promoting the export sale of agricultural commodities and products of the state by making it possible for buyers to purchase on credit terms.
Mich. Comp. Laws § 447.204
Duties of director.
(1) The director shall promote, identify, and facilitate, either directly or through any of the persons listed in section 6, export sale opportunities of agricultural commodities and products of the state. (2) If the director finds that a proposed export sale meets the requirements of this act and the buyer is eligible…
Mich. Comp. Laws § 447.205
Loan requirements.
A loan which the director may recommend to the state treasurer to invest shall meet the following requirements: (a) The agricultural commodities or other products purchased through the loan were produced or processed, in whole or in part, within the state. (b) The terms of the loan would assist in making the sale compe…
Mich. Comp. Laws § 447.206
Export sale.
An export sale under this act may be identified, proposed, developed, originated, or administered by or through an exporter, importer, agricultural trade association, the United States department of agriculture, a world trade center, the department, a qualifying financial institution, a statutorily created agricultural…
Mich. Comp. Laws § 447.207
Conditional effective date.
This act shall not take effect unless Senate Bill No. 926 of the 85th Legislature is enacted into law.