257.252h Abandoned vehicle fund; creation; sources of funding; investment; interest and earnings; money remaining in fund; expenditures.
132 words·~1 min read·
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257.252h Abandoned vehicle fund; creation; sources of funding; investment; interest and earnings; money remaining in fund; expenditures.
Sec. 252h.
(1)The abandoned vehicle fund is created within the state treasury.
(2)The state treasurer may receive money or other assets from any source for deposit into the fund. The state treasurer shall direct the investment of the fund. The state treasurer shall credit to the fund interest and other earnings from fund investments.
(3)Money in the fund at the close of the fiscal year shall remain in the fund and shall not lapse to the general fund.
(4)The department of state shall expend money from the fund, upon appropriation, to administer the provisions of this act relating to abandoned vehicles.
History: Add. 2004, Act 495 , Eff. Oct. 1, 2005