Michigan Laws 447.204 – Duties of director
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(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 for a loan from a qualifying financial institution, the director shall notify the state treasurer of the proposed export sale and the state treasurer may invest surplus funds of the state in the lending financial institution to participate in such a loan.
Terms Used In Michigan Laws 447.204
- Director: means the director of the department of agriculture. See Michigan Laws 447.202
- Qualifying financial institution: means a state or national chartered bank, a state or federal chartered credit union, a state or federal chartered savings and loan association, or savings bank, or an institution under the farm credit act of 1971, Public Law 92-181, 85 Stat. See Michigan Laws 447.202
- 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