Michigan Laws 141.1555 – Sale of asset worth more than $50,000.00; payment of benefit upon death of police officer or firefighter
Current as of: 2024 | Check for updates
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Terms Used In Michigan Laws 141.1555
- Emergency manager: means an emergency manager appointed under section 9. See Michigan Laws 141.1542
- Financial and operating plan: means a written financial and operating plan for a local government under section 11, including an educational plan for a school district. See Michigan Laws 141.1542
- Local government: means a municipal government or a school district. 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) Unless the potential sale and value of an asset is included in the emergency manager‘s financial and operating plan, the emergency manager shall not sell an asset of the local government valued at more than $50,000.00 without the state treasurer’s approval.
(2) A provision of an existing collective bargaining agreement that authorizes the payment of a benefit upon the death of a police officer or firefighter that occurs in the line of duty shall not be impaired and is not subject to any provision of this act authorizing an emergency manager to reject, modify, or terminate 1 or more terms of an existing collective bargaining agreement.