Act 161 of 2000 - MICHIGAN EDUCATION SAVINGS PROGRAM ACT (390.1471 - 390.1486)
- Section 390.1471 - Short title.
- Section 390.1472 - Definitions.
- Section 390.1473 - Michigan education savings program; establishment; soliciting proposals; duties and powers vested in treasurer; administration of program; funds trustee; personnel and services; sel
- Section 390.1474 - Management contract; supervision by treasurer.
- Section 390.1475 - Management contract; term; termination.
- Section 390.1476 - Contracts.
- Section 390.1477 - Education savings accounts; establishment; purpose; agreement; form of contribution; withdrawal; distributions; penalty; separate accounting for each beneficiary.
- Section 390.1478 - Account owner or beneficiary; changes; transfer.
- Section 390.1479 - Account owner or beneficiary; direction of contributions or earnings; selection of investment strategy; contributions by board members or employees; use of interest; restriction.
- Section 390.1480 - Maximum account balance limit; limitation; rejection of contribution to designated beneficiary account.
- Section 390.1481 - Account distributions; report to internal revenue service and account owner; statements.
- Section 390.1482 - Disclosure of information.
- Section 390.1483 - Construction or interpretation of act and agreement.
- Section 390.1484 - Obligation upon state, agency, or instrumentality of state.
- Section 390.1485 - Annual report.
- Section 390.1486 - Contributions and interest earned as tax exempt; withdrawals as taxable.