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MICHIGAN STATUTES AND CODES
Section 285.327 - Use of money; severability; audit.
Act 198 of 2003
285.327 Use of money; severability; audit.
Sec. 17.
(1) The board shall use money in the fund only for a purpose described in section 9(1). This section is not severable from the whole of this act, and if any portion of this section is held invalid, it is the manifest intent of the legislature that this act as a whole shall be held invalid and the money remaining in the fund distributed to producers in proportion to the amount of producer premiums each producer has paid to the authority.
(2) All expenditures from the fund shall be audited by a certified public accountant at least annually. Within 30 days after completion of the audit, the certified public accountant shall give copies of the audit to the director and the other members of the board. The board shall publish an activity and financial report annually and make it available to the public on request.
History: 2003, Act 198, Imd. Eff. Nov. 10, 2003