For AI agents: read the machine-readable documentation index at /llms.txt or the single-file full reference at /llms-full.txt.
Form a Business

Use of interest earned from investments, money from bond proceeds, or money from interest and penalties on unpaid special assessment.

MCL 41.738
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
41.738. Use of interest earned from investments, money from bond proceeds, or money from interest and penalties on unpaid special assessment. Sec. 18. Interest earned from the investment of money collected under a special assessment under this act or of money received as bond proceeds from a bond issued under this act, or money from interest or penalties charged and collected on an unpaid special assessment under this act shall only be used for the following: (a) To pay for the improvement for which the special assessment is assessed. (b) To pay the principal and interest of bonds that are issued for the improvement for which the special assessment is assessed. (c) To pay the principal and interest of an advance from the township that is used for the improvement for which the special assessment is assessed. Add. 1986, Act 180, Imd. Eff. July 8, 1986
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-41-738Fetched: 10/20/2026

Starting a business in Michigan? Michigan LLC guide: costs and requirements