MCL - Index of 346-1966-2
NOTE: Dates reflect any modification to item, not necessarily a change in law.
| Title | Subject |
|---|---|
| 346-1966-2 | CHAPTER 2 (125.1421...125.1449v) |
| Section 125.1421 | Michigan state housing development authority; creation; composition; appointment, qualifications, and terms of members; vacancy; expenses; certificate of appointment or reappointment; designated resident members; powers vested in members; quorum; actions of authority; findings of fact; meetings; chairperson and vice-chairperson; officers, agents, and employees; delegation of powers and duties; relationship to department of consumer and industry services; "section 8" defined. |
| Section 125.1422 | Powers of authority. |
| Section 125.1422a | Rehabilitation of residential real or rental property; loans, grants, or deferred payment loans to persons and families of low and moderate income; loans to persons in areas of chronic economic stress and to persons located elsewhere in state; powers of authority; participation or cooperation with governing bodies, private organizations, or public organizations; plan; selection of neighborhoods. |
| Section 125.1422b | Designation of authority as housing credit agency; purpose; amount of housing credit ceiling; qualification of applicant; allocation plan; distribution; setting aside allocable amounts; reapportionment of unallocated credit amounts; applications for low income housing tax credit; fees; “rural housing projects” defined. |
| Section 125.1422c | Subsidiary nonprofit housing corporation. |
| Section 125.1422d | Investments. |
| Section 125.1423 | Housing development fund; creation; payments into fund. |
| Section 125.1424 | Housing development fund; advances; grants; transfer of moneys. |
| Section 125.1424a | Land acquisition and development fund; creation; payment of moneys into fund. |
| Section 125.1424b | Land acquisition and development fund; use of moneys; acquisition and exchange of real property; improvements to real property; costs; conveyance of real property. |
| Section 125.1424c | Transfer of moneys to housing development fund or rehabilitation fund. |
| Section 125.1424d | Rehabilitation fund; creation; jurisdiction; payments. |
| Section 125.1424e | Rehabilitation fund; use of moneys; allocations or pledges to holders of bonds. |
| Section 125.1424f | Recapture tax fund; creation; establishment; payment; use. |
| Section 125.1424g | Repealed. 1985, Act 183, Imd. Eff. Dec. 18, 1985. |
| Section 125.1425 | Bonds and notes; issuance; purposes; issuing renewal notes, bonds to pay notes and refunding bonds; notes or bonds as general obligations and negotiable instruments; revised municipal finance act inapplicable; issuance subject to agency financing reporting act. |
| Section 125.1426 | Bonds and notes; authorization; terms. |
| Section 125.1427 | Notes or bonds; resolution authorizing issuance; contents. |
| Section 125.1428 | Notes and bonds; validity and effect of pledge. |
| Section 125.1429 | Notes and bonds; personal liability of members of authority. |
| Section 125.1430 | Notes and bonds; purchase for cancellation; price. |
| Section 125.1431 | Notes and bonds; liability of state. |
| Section 125.1432 | Capital reserve fund; definitions; federal housing subsidy programs; recommendations; priority; program of loans for mobile homes; program of loans for consumer housing cooperatives; notice of public hearing or proposed rule change; rules; identification of housing production goals; report to governor and committees; confidentiality. |
| Section 125.1432a | Issuance of bonds to finance single family homes; previous ownership interest; publicizing program; report to legislature; section inapplicable to refinancing single family homes. |
| Section 125.1432b | Mortgage credit certificate program; authority designated as administrator; guidelines; qualifying for receipt of mortgage credit certificate; adaptation of property for use by disabled individuals; family income limits; applicability of internal revenue code; exception; retroactive effect of changes in subsections (3) and (4). |
| Section 125.1432c | Repealed. 1988, Act 496, Eff. Mar. 30, 1989. |
| Section 125.1432d | Legislative intent. |
| Section 125.1433 | General reserve fund; creation; payments into fund; use of fund. |
| Section 125.1434 | Notes and bonds; pledge and agreement of state. |
| Section 125.1435 | Trustee; default; powers and duties. |
| Section 125.1436 | Trustee; additional powers. |
| Section 125.1437 | Venue. |
| Section 125.1438 | Notes and bonds; notice; declaration, due and payable. |
| Section 125.1439 | Money of authority; deposit; security for deposits; contracts with holders of notes or bonds; security for money held in trust; system of accounts; spending for operating purposes; periodic audits; copies. |
| Section 125.1440 | Notes and bonds; legal investment. |
| Section 125.1441 | Faith and credit bonds. |
| Section 125.1442 | Property of authority; exempt from taxation. |
| Section 125.1443 | Notes and bonds; exemption from taxation. |
| Section 125.1443a | Authorization of covenant and consent. |
| Section 125.1444 | Loans; purposes; conditions; amount; eligibility; sales and resales; long-term financing or refinancing; securing and repaying loans; interest rate; misrepresentation of income; loans for newly rehabilitated, newly constructed, or existing 1- to 4-unit housing units; definitions. |
| Section 125.1444a | Rehabilitation loans, grants, or deferred payment loans; eligibility; secured or unsecured loans or grants; insurance; reserve; interest; terms and conditions; rules; persons and families of low and moderate income; maximum principal loan amounts; minimum age of structure. |
| Section 125.1444b | Loans to mortgage lenders; authorized purchases and commitments; requirements and conditions; report. |
| Section 125.1444c | Use of proceeds of notes or bonds; qualification as rehabilitation; establishment of higher income limits; eligibility for occupancy; application; issuance of 6-month commitment to loan funds; limitation on outstanding loan commitments; fees; direct or indirect loan; sale, refinancing, or resyndication; allowable distributions; report to authority; authority-aided mortgage; monitoring compliance; remedies; regulation; liability; priority consideration; unified volume cap not as impairment; student housing project. |
| Section 125.1444d | Authorized loans; purpose; criteria. |
| Section 125.1444e | Income eligibility standards applicable to tenant of housing project. |
| Section 125.1444f | Loan for housing project in effectively treatable area; demonstration of community support; return on investment. |
| Section 125.1444g | Enforcement of promises or commitments; action to be brought against authority. |
| Section 125.1445 | Preference to displaced persons. |
| Section 125.1446 | Discrimination. |
| Section 125.1447 | Obtaining money, property, or service with intent to defraud or cheat; penalty; determination of total value; prior convictions; prohibited use. |
| Section 125.1448 | Foreclosure procedures applicable to authority. |
| Section 125.1448a | Jurisdiction to foreclose mortgages and land contracts held by authority. |
| Section 125.1448b | Other civil actions. |
| Section 125.1448c | Bringing amount due into court before judgment of sale; dismissal of complaint. |
| Section 125.1448d | Sale of premises pursuant to circuit court order. |
| Section 125.1448e | Bringing amount due into court after judgment of sale; stay of proceedings; subsequent default. |
| Section 125.1448f | Public sale of land by county clerk, deputy county clerk, or other authorized person; hours; location; sale subject to MCL 600.6091. |
| Section 125.1448g | Deed of sale; execution; operation; right, title, and interest vested in grantee; recordation; redemption of premises. |
| Section 125.1448h | Sale proceeds; application to discharge of debt; surplus; interest. |
| Section 125.1448i | Redemption of premises; effect on deed of sale; affidavit. |
| Section 125.1448j | Adding property tax and insurance premium payments made after foreclosure to amount due in judgment; determination of additional liability; affidavits; receipt; redemption. |
| Section 125.1448k | Personal liability on land contract or for mortgage debt; original judgment; deficiency; delivery of premises to purchaser; order. |
| Section 125.1448<Emph EmphType="italic">l</Emph> | Forfeiture, foreclosure, or specific performance proceedings; minimum price. |
| Section 125.1448m | Land contract or mortgage debt secured by evidence of debt of person other than vendee or mortgagor; party; court order. |
| Section 125.1448n | Sale of premises; default subsequent to judgment. |
| Section 125.1448o | Action to discharge mortgage or land contract; judgment entered by court; contents; minutes; delivery of judgment to authority; recordation of judgment. |
| Section 125.1448p | Equitable actions. |
| Section 125.1449 | Foreclosure by advertisement. |
| Section 125.1449a | Right of authority to give notice and make foreclosure; conditions; mortgage securing payment of money by installments; installment as separate and independent mortgage; foreclosure and redemption. |
| Section 125.1449b | Notice of sale; publication; posting copy of notice upon premises. |
| Section 125.1449c | Notice of sale; contents. |
| Section 125.1449d | Sale of premises at public sale; hours; location; appointed person; highest bidder. |
| Section 125.1449e | Adjournment of sale; request; notice; oral announcement unnecessary. |
| Section 125.1449f | Sale of distinct farms, tracts, or lots separately or together. |
| Section 125.1449g | Purchase of premises by authority or its successor or assign permitted. |
| Section 125.1449h | Deed; execution, acknowledgment, and delivery by officer or person making sale; separate deeds where lands situated in several counties; endorsement, recordation, and indexation of deed by register of deeds; redemption. |
| Section 125.1449i | Deed; right, title, and interest vested in grantee; record of deed valid without re-recordation; effect of sale on valid subsisting lien created before mortgage lien took effect. |
| Section 125.1449j | Redemption of premises; payment of taxes or insurance premiums; redemption period; fees or charges. |
| Section 125.1449k | Abandonment of premises; presumption. |
| Section 125.1449<Emph EmphType="italic">l</Emph> | Payment of entire sum bid at sale, interest, and fee, or delivery of certificate of payment to register; destruction of deed; memoranda. |
| Section 125.1449m | Refusal to make and acknowledge certificate of payment; liability; damages; civil action. |
| Section 125.1449n | Disposition of surplus money remaining after sale of real estate. |
| Section 125.1449o | Perpetuating evidence of sale; affidavit; endorsement upon or annexation to instrument; references. |
| Section 125.1449p | Taking and certifying affidavits. |
| Section 125.1449q | Recording affidavits; presumptive evidence of facts. |
| Section 125.1449r | Note recording evidence of sale to be made in margin of mortgage record. |
| Section 125.1449s | Notice of payment to purchaser, agent, or attorney. |
| Section 125.1449t | Right to enter mortgaged premises to post or serve notices. |
| Section 125.1449u | Action to recover deficiency judgment against mortgagor; defense; applicability of section. |
| Section 125.1449v | Foreclosure against residential property not exceeding 4 units and not more than 3 acres; applicability of section. |