Michigan § 124.22 Conditional transfer of property; period; written contract; renewal.

Michigan Statutes

§ 124.22 — Conditional transfer of property; period; written contract; renewal.

Michigan § 124.22

Ch. 124MUNICIPALITIES

Act 425 of 1984INTERGOVERNMENTAL CONDITIONAL TRANSFER OF PROPERTY BY CONTRACT (124.21-124.30)

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Bluebook

Mich. Comp. Laws § 124.22 (2026).

Text

INTERGOVERNMENTAL CONDITIONAL TRANSFER OF PROPERTY BY CONTRACT (EXCERPT) Act 425 of 1984 124.22 Conditional transfer of property; period; written contract; renewal. Sec. 2.

(1)Two or more local units may conditionally transfer property for a period of not more than 50 years for the purpose of an economic development project. A conditional transfer of property shall be controlled by a written contract agreed to by the affected local units.

(2)A contract under this act may be renewed for additional periods of not to exceed 50 years upon approval of each legislative body of the affected local units.

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INTERGOVERNMENTAL CONDITIONAL TRANSFER OF PROPERTY BY CONTRACT (EXCERPT) Act 425 of 1984 124.22 Conditional transfer of property; period; written contract; renewal. Sec. 2. (1) Two or more local units may conditionally transfer property for a period of not more than 50 years for the purpose of an economic development project. A conditional transfer of property shall be controlled by a written contract agreed to by the affected local units. (2) A contract under this act may be renewed for additional periods of not to exceed 50 years upon approval of each legislative body of the affected local units.