Sec. 10.
The authority is subject to the supervision and examination of the commissioner of the financial institutions bureau of the department of commerce. However, the authority is not considered to be a banking organization and is not required to pay a fee for the supervision or examination. The authority shall make an annual report of its condition to the governor and the legislature within 60 days after the legislature convenes.
History: 1960, Act 77, Imd. Eff. Apr. 25, 1960 ;-- Am. 1989, Act 128, Imd. Eff. June 28, 1989