Section 487.2104. Enrollment; state university payments.

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All state colleges and universities that receive monthly state payments shall enroll and receive their payments by EFT, subject to all of the following provisions:

(a)   All state colleges and universities shall be instructed by the department of management and budget to   provide the complete   financial institution information that is necessary to enable the department to EFT monthly state payments.

(b)   All state colleges and universities that receive their   monthly payments by EFT shall voluntarily remit their Michigan sales, use, and withholding taxes by EFT when notified by the department.

(c)   EFT direct deposits will be discontinued to state colleges and universities that are not in compliance with the provisions of subdivision (b) of this rule and they will receive their aid payments by means other than EFT direct deposit.

History: 1994 AACS.

                    
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