Michigan HB6368: Commercial code: other; references to uniform commercial code in 1976 PA 289; revise. Amends sec. 5 of 1976 PA 289 (MCL 390.1355). TIE BAR WITH: HB 6347'26

What the bill says

To amend 1976 PA 289, entitled "An act to implement, clarify, and confirm the constitutional powers of the bodies corporate controlling those institutions of higher education named in sections 4, 5, and 6 of article 8 of the state constitution of 1963, or established by law as therein provided, regarding the establishment and financing of student loan programs," by amending section 5 (MCL 390.1355), as amended by 2000 PA 426.

From the introduced text, September 24, 2026:

A bill to amend 1976 PA 289, entitled "An act to implement, clarify, and confirm the constitutional powers of the bodies corporate controlling those institutions of higher education named in sections 4, 5, and 6 of article 8 of the state constitution of 1963, or established by law as therein provided, regarding the establishment and financing of student loan programs," by amending section 5 (MCL 390.1355), as amended by 2000 PA 426. the people of the state of michigan enact: Sec. 5. Whether or not notes or bonds issued pursuant to under this act are within the definition of negotiable instruments under the applicable provisions of the uniform commercial code, 1962 PA 174, MCL 440.1101 to 440.11102, 440.12501, the notes or bonds shall be are negotiable instruments within the meaning of and for all purposes of the provisions of the uniform commercial code, 1962 PA 174, MCL 440.1101 to 440.11102, 440.12501, subject only to the provisions of the notes or bonds for registration. Enacting section 1. This amendatory act does not take effect unless House Bill No. 6347 (request no. H02809'25) of the 103rd Legislature is enacted into law.

Read the full official text

Sponsors

• Hoskins, Jason (D, 18) · primary sponsor
• Wozniak, Douglas (R, 59)