{"data":{"id":"us-mi/mich.-comp.-laws-125.2013","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 125.2013","heading":"Total debt owed to fund; limitation.","body":"Sec. 13.\n\nThe total debt owed to the fund, excluding rights and royalties under a venture capital agreement or obligations to the fund resulting from an industrial development revenue bond or note, in relation to any 1 project shall at no time exceed 5% of the total assets of the fund, except that upon approval by a 2/3 vote of the board this amount may be increased to not to exceed 10% of the assets of the fund. This section does not apply to a program or activity authorized under chapter 8A.","path":["MI Code","Chapter 125","Act Act-270-of-1984"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-125-2013","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"c0c339570b5d79cdeeb9418a57d79de90df3edea27b5a33bc3a887348b806e92","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-125.2012a","next":"us-mi/mich.-comp.-laws-125.2014"},"notice":"GroundRules: Original legal text. Not legal advice."}