125.2958 Dissolution or termination; validity of incentives previously granted.

106 words·~1 min read·/mi/chapter-125/125-2958

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 8.

In the event that a next Michigan development corporation dissolves or is terminated, all incentives previously granted by the next Michigan development corporation shall be unaffected by the dissolution and shall remain valid and in full force and effect in accordance with their respective terms. Incentives previously granted by the next Michigan development corporation shall be administered by the city, village, township, or charter township in which the eligible business to which the incentives were granted is located unless otherwise provided in the interlocal agreement.

History: 2010, Act 275 , Imd. Eff. Dec. 15, 2010