Sec. 80130l.
(1) The abandoned vessel, ORV, and snowmobile fund is created within the state treasury.
(2) 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 other earnings from fund investments.
(3) Money in the fund at the close of the fiscal year shall remain in the fund and shall not lapse to the general fund.
(4) The department of state shall be the administrator of the fund for auditing purposes.
(5) The department of state shall expend money from the fund, upon appropriation, to administer sections 80130f to 80130p, 81151, and 82161 and other provisions of this act relating to abandoned vessels, ORVs and snowmobiles.
History: Add. 2014, Act 549, Eff. Apr. 16, 2015
Popular Name: Act 451
Popular Name: Marine Safety Act
Popular Name: NREPA