Michigan Laws 123.1213 – Replacement of initial art institute services provider; contract for use of funds
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Terms Used In Michigan Laws 123.1213
- Art institute: means an encyclopedic art museum whose primary art collection and facility, at the date an authority is established, are owned by a municipality located in this state. See Michigan Laws 123.1203
- Art institute services: means the operation or support of an art institute. See Michigan Laws 123.1203
- Art institute services provider: means a nonprofit entity qualified under section 501(c)(3) of the internal revenue code, 26 USC 501(c)(3), that, as its primary purpose, provides art institute services to an art institute. See Michigan Laws 123.1203
- Authority: means an art institute authority established under section 5. See Michigan Laws 123.1203
- Contract: A legal written agreement that becomes binding when signed.
Before a vote for a tax levy under section 17 occurs or, if an initial art institute services provider is replaced, before any funds are transferred under section 25 to a replacement art institute services provider, the art institute services provider shall enter into a contract with the authority requiring the art institute services provider to use the funds received from the authority exclusively to support the provision of art institute services to an art institute.