324.21526 Board of directors; powers.
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324.21526 Board of directors; powers.
Sec. 21526.
Except as otherwise provided in this part, the board of directors may do all things necessary or convenient to implement this part and the purposes, objectives, and powers delegated to the board of directors by other laws or executive orders, including, but not limited to, all of the following:
(a)Adopt an official seal and bylaws for the regulation of its affairs and alter the seal or bylaws.
(b)Sue and be sued in its own name and plead and be impleaded.
(c)Enter into contracts and other instruments necessary, incidental, or convenient to the performance of its duties and the exercise of its powers.
(d)With the prior consent of the director of the department, solicit and accept gifts, grants, loans, and other aid from any person or the federal, state, or local government or any agency of the federal, state, or local government, or participate in any other way in a federal, state, or local government program.
(e)Procure insurance against loss in connection with the property, assets, or activities of the authority.
(f)Contract for goods and services and engage personnel as necessary and engage the services of private consultants, managers, legal counsel, and auditors for rendering professional financial assistance and advice, payable out of any money of the authority.
(g)Indemnify and procure insurance indemnifying members of the board of directors from personal loss or accountability from liability asserted by a person on bonds or notes of the authority, or from any personal liability or accountability by reason of the issuance of the bonds or notes, or by reason of any other action taken or the failure to act by the authority.
(h)Do all other things necessary or convenient to achieve the objectives and purposes of the authority, this part, rules promulgated under this part, or other laws that relate to the purposes and responsibilities of the authority.
History: 1994, Act 451, Eff. Mar. 30, 1995 ;-- Am. 2014, Act 416 , Imd. Eff. Dec. 30, 2014 ;-- Am. 2016, Act 380 , Eff. Mar. 22, 2017
Compiler's Notes: For transfer of powers and duties of Michigan underground storage tank financial assurance authority, and its board of directors, to Michigan finance authority, see E.R.O. No. 2010-2, compiled at MCL 12.194.For abolishment of board of directors of Michigan underground storage tank financial assurance authority, see E.R.O. No. 2010-2, compiled at MCL 12.194.
Popular Name: Act 451
Popular Name: NREPA