MCL - Section 12.62 - Michigan Legislature

MCL - Section 12.62 - Michigan Legislature Skip to content Michigan Legislature Michigan Compiled Laws Complete Through PA 7 of 2026 MCL Complete Through PA 7 of 2026 Senate adjourned until Tuesday, April 14, 2026 10:00 AM Senate adjourned until 04/14/26 10:00 AM House adjourned until Tuesday, April 14, 2026 1:30 PM House adjourned until 04/14/26 1:30 PM Home Legislature Legislative Document Search Bills Resolutions Joint Resolutions Concurrent Resolutions Calendars Committees Committee Bill Records Committee Meetings Initiatives/Alternative Measures Journals Legislators Public Acts (Signed Bills) Rules and Schedules Laws MCL Search Public Act MCL Search Michigan Constitution MCL Chapter Index Executive Orders Executive Reorganization Orders MCL Tables and Appropriation Acts More Archives Historical Documents Committee Meeting Notifications Legislative Directory Michigan Manuals Publications Related Sites Help Sign Up Log In MCL - Section 12.62 Download Section

Chapter 12 Act 259 of 1982

Previous Section Next Section

PAYMENT OF FULL FAITH AND CREDIT OBLIGATIONS (EXCERPT) Act 259 of 1982 12.62 Payment of principal and interest on obligations of state; duties of state treasurer. Sec. 2. It shall be the duty of the state treasurer to pay or cause to be paid the principal of and interest on all obligations of this state as the same become due from any money or revenue pledged therefor or from any other state money or revenue under the control or custody of the state treasurer other than retirement funds, trust and agency funds, bond proceeds funds, debt service funds, restricted gifts and grants, or revenue restricted by the state constitution of 1963 for other purposes, notwithstanding that state money or revenue subject to use by the state treasurer for payment of principal and interest on any obligation of this state may have been otherwise restricted for other use. If the principal of or interest on any obligation of this state is not paid upon proper presentation of the evidence of such obligation to the agent or officer charged with making payment thereof, upon presentation of the evidence of such obligation to the state treasurer, the state treasurer shall have the duty to promptly pay the same from the first state money or revenue which are then or thereafter come under his or her control or custody in the same or any subsequent state fiscal year other than retirement funds, trust and agency funds, bond proceeds funds, debt service funds, restricted gifts and grants, or revenue restricted by the state constitution of 1963 for other purposes, notwithstanding that state money or revenue subject to use by the state treasurer for payment of principal and interest on any obligation of this state may have been otherwise restricted for other use and notwithstanding that state revenue or money subject to use by the state treasurer for payment of principal and interest on any obligation of this state may have been accrued as receipts for a prior state fiscal year. History: 1982, Act 259, Imd. Eff. Sept. 30, 1982

Acceptable Use Policy Privacy Policy DMCA Policy Comment Form Legislative Directory Accessibility Site Map Bills Meetings Laws The Michigan Legislature Website is a free service of the Legislative Service Bureau in cooperation with the Michigan Legislative Council, the Michigan House of Representatives, the Michigan Senate, and the Library of Michigan. This site is intended to provide accurate and timely legislative information to the citizens of the State of Michigan and other interested parties. Additional historical documents can be found at https://www.michigan.gov/libraryofmichigan. The information obtained from this site is not intended to replace official versions of that information and is subject to revision. The Legislature presents this information, without warranties, express or implied, regarding the accuracy of the information, timeliness, or completeness. If you believe the information is inaccurate, out-of-date, or incomplete or if you have problems accessing or reading the information, please send your concerns to the appropriate agency using the online Comment Form in the bar above this text.