257.811ff Fund-raising plate recognizing Detroit Pistons.

271 words·~1 min read·/mi/chapter-257/257-811ff

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Sec. 811ff.

(1)No later than August 1, 2019, the secretary of state shall develop under section 811e and issue under section 811f a fund-raising plate or collector plate recognizing the Detroit Pistons in this state. The fund-raising plate or collector plate authorized in this section shall bear an appropriate logo, the design of which the Detroit Pistons shall submit to the secretary of state.

(2)The Detroit Pistons fund is created within the state treasury. 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 earnings from fund investments. Money in the fund at the close of the fiscal year shall remain in the fund and shall not lapse to the general fund.

(3)The secretary of state shall transfer the donation money from the sale of fund-raising plates recognizing the Detroit Pistons to the state treasurer, who shall credit the donation money to the Detroit Pistons fund established under subsection (2).

(4)The state treasurer shall disburse money in the fund established under subsection

(2)on a quarterly basis to the Come Together Foundation.

(5)The state treasurer shall be the administrator of the fund created in subsection

(2)for auditing purposes.

(6)Money disbursed to the Come Together Foundation under this section shall be distributed to eligible nonprofit organizations that are exempt from taxation under section 501(c)(3) of the internal revenue code, 26 USC 501.

History: Add. 2018, Act 326 , Eff. Sept. 30, 2018