Mich. Comp. Laws § 322.282: School and university lands; new certificates, indorsement of credits, computation of interest.

Sec. 2.

At the time of issuing any such new certificates, the said commissioner shall indorse thereon the proper credits, pro rata, and of their proper dates for all payments of principal and interest moneys theretofore made upon the original certificate thus surrendered, and the interest upon such new certificate shall be computed from the last annual payment due on the original certificate.