Mich. Comp. Laws » Michigan Compiled Laws / Chapter 125 / Act 346 of 1966
Michigan Compiled Laws

Mich. Comp. Laws § 125.1434 (2026)

Notes and bonds; pledge and agreement of state.

✓ current as of July 2026
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STATE HOUSING DEVELOPMENT AUTHORITY ACT OF 1966


Act 346 of 1966


125.1434 Notes and bonds; pledge and agreement of state.

Sec. 34.

    The state pledges and agrees with the holders of any notes or bonds issued under this act, that the state will not limit or alter the rights vested in the authority to fulfill the terms of any agreements made with the holders thereof, or in any way impair the rights and remedies of the holders until the notes or bonds, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged. The authority is authorized to include this pledge and agreement of the state in any agreement with the holders of such notes or bonds.

History: 1966, Act 346, Eff. Mar. 10, 1967

Notes of Decisions
Cited in 3 cases, 2005–2011 · leading case: Studier v. Michigan Pub. Sch. Employees' Ret. Bd., 698 N.W.2d 350 (Mich. 2005).
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Studier v. Michigan Pub. Sch. Employees' Ret. Bd., 698 N.W.2d 350 (Mich. 2005). · cites it 2× “) Similarly, when enacting the State Housing Development Authority Act, 1966 PA 346 , the Legislature provided in MCL 125.1434: “The state pledges and agrees with the holders of any notes or bonds issued under this act, that the state will not limit or alter the rights vested in…”
In Re Request for Advisory Opinion Regarding Constitutionality of 2011 PA 38, 806 N.W.2d 683 (Mich. 2011). · cites it 2× “) Similarly, when enacting the State Housing Development Authority Act, 1966 PA 346 , the Legislature provided in MCL 125.1434: “The state pledges and agrees with the holders of any 24 that enacted [these provisions] intended to do anything beyond .”
Alberta Studier v. Michigan Pub. Schl Emp Ret. Bd (Mich. 2005). “) Similarly, when enacting the State Housing Development Authority Act, 1966 PA 346 , the Legislature provided in MCL 125.1434: “The state pledges and agrees with the holders of any notes or bonds issued under this act, that the state will not limit or alter the rights vested in…”
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