Michigan Laws 141.1562 – Determination that financial emergency rectified; actions by governor
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Terms Used In Michigan Laws 141.1562
- Emergency manager: means an emergency manager appointed under section 9. See Michigan Laws 141.1542
- Local government: means a municipal government or a school district. See Michigan Laws 141.1542
- Receivership: means the process under this act by which a financial emergency is addressed through the appointment of an emergency manager. See Michigan Laws 141.1542
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(1) If an emergency manager determines that the financial emergency that he or she was appointed to manage has been rectified, the emergency manager shall inform the governor and the state treasurer.
(2) If the governor disagrees with the emergency manager’s determination that the financial emergency has been rectified, the governor shall inform the emergency manager and the term of the emergency manager shall continue or the governor shall appoint a new emergency manager.
(3) Subject to subsection (4), if the governor agrees that the financial emergency has been rectified, the emergency manager has adopted a 2-year budget as required under section 21, and the financial conditions of the local government have been corrected in a sustainable fashion as required under section 9(7), the governor may do either of the following:
(a) Remove the local government from receivership.
(b) Appoint a receivership transition advisory board as provided in section 23.
(4) Before removing a local government from receivership, the governor may impose 1 or more of the following conditions on the local government:
(a) The implementation of financial best practices within the local government.
(b) The adoption of a model charter or model charter provisions.
(c) Pursue financial or managerial training to ensure that official responsibilities are properly discharged.