Michigan Article 9 is the state's Uniform Commercial Code (UCC), which establishes a uniform set of laws governing commercial transactions and credit arrangements between merchants. It is divided into nine sections, with each section covering a different aspect of these transactions. Sections 1 and 2 deals with the general provisions of the code, Section 3 covers the scope of the code, Section 4 addresses secured transactions, Section 5 covers letters of credit, Section 6 covers bulk transfers, Section 7 covers investment securities, Section 8 covers documents of title, and Section 9 deals with secured party remedies. Additionally, there are two types of Article 9: Article 9A, which applies to secured transactions, and Article 9B, which applies to investment securities.
Michigan Article 9
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§ 24 Public pension plans and retirement systems, obligation. Sec. 24. The accrued financial benefits of each pension plan and retirement system of the state and its political subdivisions shall be a contractual obligation thereof which shall not be diminished or impaired thereby.
1. Every citizen of the United States who has attained the age of 21 years, who has resided in this state six months, and who meets the requirements of local residence provided by law, shall be an elector and qualified to vote in any election except as otherwise provided in this constitution.
Sec. 9. Neither slavery, nor involuntary servitude unless for the punishment of crime, shall ever be tolerated in this state.
Sec. 9. The people reserve to themselves the power to propose laws and to enact and reject laws, called the initiative, and the power to approve or reject laws enacted by the legislature, called the referendum. The power of initiative extends only to laws which the legislature may enact under this constitution.
The Constitution of Michigan of 1963 Article 9 sec. 3 created the process of equalization. It states: The legislature shall provide for the uniform general ad valorem (ing to value) taxation of real and tangible personal property not exempt by law.
Article 9 of the Uniform Commercial Code (UCC), titled Secured Transactions, designates the office of the Secretary of State as the place for the filing and searching of secured transaction documents. Financing statements are filed as a public notice of a security interest in collateral.
The legislature may authorize the incurrence of indebtedness and the issuance of obligations pledging the taxes allocated or authorized to be allocated by this section, which obligations shall not be construed to be evidences of state indebtedness under this constitution. Former Constitution: See Const.