Section 338.2203 - Licensing and regulation fund; creation; requirementsThe licensing and regulation fund is created in the state treasury. All of the following apply to the licensing and regulation fund:
(a) Except as otherwise provided in sections 11, 37, 38, and 39, the fees collected under this act shall be deposited into the fund.(b) Money in the fund shall be used only to offset the cost of operating the department.(c) The state treasurer shall direct the investment of the fund and shall credit to the fund interest and earnings from fund investments.(d) Money in the fund at the close of the fiscal year shall remain in the fund and shall not lapse to the general fund.(e) The department is the administrator of the fund for auditing purposes.Amended by 2012, Act 308,s 2, eff. 10/1/2012.Amended by 2007, Act 77,s 1, eff. 9/30/2007.Amended by 2006, Act 645,s 1, eff. 1/5/2007.1979, Act 152, Eff. 1/1/1980 ;--Am. 1988, Act 461, Eff. 9/1/1989 ;--Am. 1990, Act 268, Imd. Eff. 10/17/1990 ;--Am. 1993, Act 139, Imd. Eff. 8/2/1993.