Michigan § 388.1937 False statement or unauthorized use of proceeds; violation as felony; penalty.

Michigan Statutes

§ 388.1937 — False statement or unauthorized use of proceeds; violation as felony; penalty.

Michigan § 388.1937

Ch. 388SCHOOLS AND SCHOOL AID

Act 92 of 2005SCHOOL BOND QUALIFICATION, APPROVAL, AND LOAN ACT (388.1921-388.1939)

This text of Michigan § 388.1937 (False statement or unauthorized use of proceeds; violation as felony; penalty.) is published on Counsel Stack Legal Research, covering Michigan primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mich. Comp. Laws § 388.1937 (2026).

Text

SCHOOL BOND QUALIFICATION, APPROVAL, AND LOAN ACT (EXCERPT) Act 92 of 2005 388.1937 False statement or unauthorized use of proceeds; violation as felony; penalty. Sec.

17.A person who knowingly makes a false statement or conceals material information for the purpose of obtaining qualification of a bond issue under this act or for the purpose of obtaining a qualified loan under this act, or who knowingly uses all or part of the proceeds of a qualified loan obtained under this act for any purpose not authorized by this act, is guilty of a felony punishable by imprisonment for not more than 4 years or a fine of not more than $5,000.00, or both.

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SCHOOL BOND QUALIFICATION, APPROVAL, AND LOAN ACT (EXCERPT) Act 92 of 2005 388.1937 False statement or unauthorized use of proceeds; violation as felony; penalty. Sec. 17. A person who knowingly makes a false statement or conceals material information for the purpose of obtaining qualification of a bond issue under this act or for the purpose of obtaining a qualified loan under this act, or who knowingly uses all or part of the proceeds of a qualified loan obtained under this act for any purpose not authorized by this act, is guilty of a felony punishable by imprisonment for not more than 4 years or a fine of not more than $5,000.00, or both.