Michigan Compiled Laws

Mich. Comp. Laws § 460.10n (2026)

Securitization bonds; state pledge of certain conduct.

✓ current as of July 2026

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MICHIGAN PUBLIC SERVICE COMMISSION

Act 3 of 1939

460.10n Securitization bonds; state pledge of certain conduct.

Sec. 10n.

(1) Securitization bonds are not a debt or obligation of the state and are not a charge on its full faith and credit or taxing power.

(2) The state pledges, for the benefit and protection of the financing parties and the electric utility, that it will not take or permit any action that would impair the value of securitization property, reduce or alter, except as allowed under section 10k(3), or impair the securitization charges to be imposed, collected, and remitted to financing parties, until the principal, interest and premium, and any other charges incurred and contracts to be performed in connection with the related securitization bonds have been paid and performed in full. Any party issuing securitization bonds is authorized to include this pledge in any documentation relating to those bonds.

History: Add. 2000, Act 142, Imd. Eff. June 5, 2000

PopularName Notes:

Customer Choice and Electricity Reliability Act

Notes of Decisions

Cited in 1 case, 2005–2005 · leading case: Consumers Energy Co. v. Pub. Serv. Comm'n, 707 N.W.2d 633 (Mich. Ct. App. 2005).

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Consumers Energy Co. v. Pub. Serv. Comm'n, 707 N.W.2d 633 (Mich. Ct. App. 2005). · cites it 2× “Consumers further asserts that the securitization offset violates MCL 460.10n(2), which provides: The state pledges, for the benefit and protection of the financing parties and the electric utility, that it will not take or permit any action that would impair the value of…”

— Mich. Comp. Laws § 460.10n(2) — 1 case

Consumers Energy Co. v. Pub. Serv. Comm'n, 707 N.W.2d 633 (Mich. Ct. App. 2005). “Consumers further asserts that the securitization offset violates MCL 460.10n(2), which provides: The state pledges, for the benefit and protection of the financing parties and the electric utility, that it will not take or permit any action that would impair the value of…”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.