reglab/statecodes huggingface dataset:
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-2 - Chapter 2 (331.1201...331.1262) › Section 331.1212 - Compensation of Trustees; Bond; Trustees as Public Servants; Conflicts of Interest; Disclosure.

331.1212 Compensation of trustees; bond; trustees as public servants; conflicts of interest; disclosure.
Sec. 212.
(1) Each trustee of a corporation or subsidiary corporation may receive compensation as shall be established by the county board of commissioners for his or her services as a trustee, including, but not limited to, attendance at meetings of the board of trustees or subsidiary board, or their committees, and per diem and travel expenses, at rates approved by the county board of commissioners. A trustee may receive reimbursement for other necessary expenses which are properly substantiated and approved by the board of trustees or subsidiary board. A corporation or subsidiary corporation may provide travel and accident insurance for its trustees.
(2) A bond shall not be required for trustees or officers of corporations or subsidiary corporations.
(3) Trustees shall be considered public servants subject to Act No. 317 of the Public Acts of 1968, being sections 15.321 to 15.330 of the Michigan Compiled Laws, to the extent provided in that act, and subject to any other applicable law with respect to conflict of interest. A board of trustees may establish policies and procedures for a corporation and any subsidiary corporations requiring periodic disclosure of relationships which may give rise to conflicts of interest. A board of trustees may require that a trustee who has a direct interest in any matter before a corporation or a subsidiary corporation disclose the trustee's interest and any reasons reasonably known to the trustee why the transaction may not be in the best interest of the corporation or the subsidiary corporation before the corporation or subsidiary corporation takes any action with respect to the matter. The disclosure shall become part of the record of the corporation's or subsidiary corporation's proceedings.
History:
1987, Act 230, Eff. Feb. 27, 1988
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-2 - Chapter 2 (331.1201...331.1262) › Section 331.1213 - Corporation and Subsidiary Corporation as Body Corporate; Power to Sue and Be Sued; Official Seal; Liability or Debt.

331.1213 Corporation and subsidiary corporation as body corporate; power to sue and be sued; official seal; liability or debt.
Sec. 213.
Each corporation and subsidiary corporation organized or existing under this act shall be a body corporate with power to sue and be sued and to adopt an official seal and alter it at its discretion. A debt, claim, liability, corporation obligation, note, bond, or other obligation incurred by a corporation or a subsidiary corporation after the effective date of this act shall not be a liability or debt of or enforceable against the county, except as specifically otherwise provided by written agreement of the county approved by its board of commissioners. A debt, claim, liability, corporation obligation, note, bond, or other obligation incurred by a subsidiary corporation shall not be a liability or debt of or enforceable against its parent corporation or another subsidiary corporation nor shall any debt, claim, liability, corporation obligation, note, bond, or other obligation incurred by a corporation be a liability or debt of or enforceable against its subsidiaries, except as specifically otherwise provided in writing duly authorized by the corporation or subsidiary corporation charged.
History:
1987, Act 230, Eff. Feb. 27, 1988
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-2 - Chapter 2 (331.1201...331.1262) › Section 331.1251 - Public Hospital or Other Health Care Facility; Incorporation of Corporation; Election Required.

331.1251 Public hospital or other health care facility; incorporation of corporation; election required.
Sec. 251.
The city council of a city or the village council of a village that owns or operates a public hospital may incorporate 1 or more corporations under this act. The city council of a city or the village council of a village that does not own or operate a public hospital may also establish such a hospital or other health care facility, or both, by incorporating 1 or more corporations under this act. The question of establishing 1 or more corporations under this act shall be presented to the city or village electors at a special or regular city or village election before incorporation. An election under this section shall be conducted pursuant to the Michigan election law, Act No. 116 of the Public Acts of 1954, being sections 168.1 to 168.992 of the Michigan Compiled Laws.
History:
Add. 1988, Act 502, Eff. Jan. 1, 1989
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-2 - Chapter 2 (331.1201...331.1262) › Section 331.1252 - Election; Place; Canvassing Vote; Ballots.

331.1252 Election; place; canvassing vote; ballots.
Sec. 252.
An election required under section 251 shall be held at the usual places in the city or village for the election of city or village officers, the vote to be canvassed in the same manner as that for city or village officers. The ballots to be used at any election at which the question is submitted shall be printed with a statement as follows:
"Shall the city (or village) of __________ establish a health facilities corporation in accordance with the terms of the municipal health facilities corporations act?
Yes ___ No ___".
History:
Add. 1988, Act 502, Eff. Jan. 1, 1989
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-2 - Chapter 2 (331.1201...331.1262) › Section 331.1254 - Incorporation of Corporation and Subsidiary Corporations; Names.

331.1254 Incorporation of corporation and subsidiary corporations; names.
Sec. 254.
If, in accordance with sections 251 and 252, a majority of all the votes cast upon the question are in favor of establishing a corporation, the city council or village council may incorporate a corporation in order to implement or further the public purposes stated in section 102 through the exercise of all or some of the powers provided in this act. The board of trustees of a corporation may incorporate 1 or more subsidiary corporations in order to implement or further the public purposes stated in section 102 through the exercise of all or some of the powers provided in this act. The city council or village council shall adopt a suitable name for any corporation which it incorporates. The board of trustees of a corporation shall adopt a suitable name for any subsidiary corporation which it incorporates.
History:
Add. 1988, Act 502, Eff. Jan. 1, 1989
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-2 - Chapter 2 (331.1201...331.1262) › Section 331.1255 - Articles of Incorporation Generally.

331.1255 Articles of incorporation generally.
Sec. 255.
The incorporation of a corporation by a city or village shall be accomplished by approval of articles of incorporation by resolution of the city council or village council. The incorporation of a subsidiary corporation shall be accomplished by approval of articles of incorporation by resolution of the city council or village council. The articles of incorporation shall set forth the name of the corporation or subsidiary corporation; the purposes for which it is created, which may include all of the purposes for which a corporation or subsidiary corporation may be organized under this act; the number, terms, and manner of selection of the officers of its board of trustees or subsidiary board, which shall include a chairperson and a secretary, and a general description of their respective powers and duties; the date upon which the incorporation shall become effective; and the name of the newspaper in which the articles of incorporation shall be published. The articles of incorporation of a subsidiary corporation shall also contain the name of the corporation acting as its parent, and shall specify the size of the subsidiary board in accordance with section 258(2). The articles of incorporation of a corporation may specify transactions otherwise within the powers of its board of trustees which shall require approval by resolution of the city council or village council, and may also contain other matters considered expedient to be included in the articles of incorporation. The articles of incorporation of a subsidiary corporation may specify transactions otherwise within the powers of its subsidiary board which shall require approval by resolution of the board of trustees of its designated parent corporation, and may also contain other matters considered expedient to be included in the articles of incorporation.
History:
Add. 1988, Act 502, Eff. Jan. 1, 1989
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-2 - Chapter 2 (331.1201...331.1262) › Section 331.1256 - Articles of Incorporation; Execution; Delivery; Publication; Filing; Certificate; Effective Date; Validity of Incorporation; Section Inapplicable to Articles of Incorporation of Restructured Corporation or Subsidiary.

331.1256 Articles of incorporation; execution; delivery; publication; filing; certificate; effective date; validity of incorporation; section inapplicable to articles of incorporation of restructured corporation or subsidiary.
Sec. 256.
(1) The articles of incorporation of a corporation incorporated by a city or village shall be executed in duplicate by the chairperson of the city council or the president of the village council or other member of the city council or village council designated by the city council or village council. The articles of incorporation of a subsidiary corporation of a corporation incorporated by a city or village shall be executed in duplicate by the chairperson of the board of trustees of the parent corporation, or other trustee designated by the board of trustees. The articles of incorporation shall then be delivered to the city clerk or village clerk who shall file 1 copy in his or her office and the other with the secretary of the corporation or subsidiary corporation when a secretary is selected. The city clerk or village clerk shall cause a copy of the articles of incorporation to be published once in a newspaper designated in the articles of incorporation and circulating within the city or village accompanied by a statement that the right exists to question the validity of the incorporation in court as provided in this section.
(2) The city clerk or village clerk shall file 1 printed copy of articles of incorporation delivered to him or her under subsection (1) with the secretary of state and 1 printed copy in his or her office. The city clerk or village clerk shall attach to each of the printed copies his or her certificate setting forth that the copy is a true and complete copy of the original articles of incorporation on file in his or her office.
(3) The incorporation of a corporation or a subsidiary corporation described in this section is effective at the time provided in the articles of incorporation, but not before approval of the question of incorporation by the city or village electors under section 251.
(4) The validity of the incorporation of a corporation or a subsidiary corporation described in this section is conclusively presumed unless questioned in a court of competent jurisdiction within 60 days after the certified copy of the articles of incorporation of that corporation or subsidiary corporation is filed with the secretary of state under subsection (2).
(5) This section does not apply to articles of incorporation of a restructured corporation or restructured subsidiary corporation described in section 305a.
History:
Add. 1988, Act 502, Eff. Jan. 1, 1989 ;-- Am. 2010, Act 331, Imd. Eff. Dec. 21, 2010
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-2 - Chapter 2 (331.1201...331.1262) › Section 331.1257 - Articles of Incorporation; Amendment.

331.1257 Articles of incorporation; amendment.
Sec. 257.
(1) The articles of incorporation of a corporation incorporated by a city or village may be amended by resolution approved by the affirmative vote of a majority of the members serving on the city council or village council. The articles of incorporation of a subsidiary corporation of a corporation incorporated by a city or village may be amended by resolution approved by the affirmative vote of a majority of the trustees serving on the board of trustees of the parent corporation.
(2) The city clerk or village clerk shall file certified copies of any amendment to the articles of incorporation of a corporation or subsidiary corporation approved under subsection (1) in his or her office, with the secretary of state, and with the secretary of the corporation or subsidiary corporation. The amendment is effective when filed with the secretary of state unless a later effective date is specified in the resolution adopting the amendment. This subsection does not apply to an amendment to the articles of incorporation of a restructured corporation or a restructured subsidiary corporation.
(3) The articles of incorporation of a corporation or subsidiary corporation described in this section may be amended to include any provision that could be lawfully included in articles of incorporation initially adopted under this act at the time the amendment is approved, and may provide for the alteration or changing of the name, structure, organization, purposes, powers, programs, or activities of the corporation or subsidiary corporation. However, an amendment shall not be effective to impair the obligation of a corporation obligation, bond, note, or contract.
History:
Add. 1988, Act 502, Eff. Jan. 1, 1989 ;-- Am. 2010, Act 331, Imd. Eff. Dec. 21, 2010
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-2 - Chapter 2 (331.1201...331.1262) › Section 331.1259 - Board of Trustees and Subsidiary Board; Quorum; Actions.

331.1259 Board of trustees and subsidiary board; quorum; actions.
Sec. 259.
A majority of the trustees serving on a board or subsidiary board of a corporation incorporated by a city or village shall constitute a quorum for the transaction of business of the corporation or subsidiary corporation, respectively. Except as otherwise specifically provided in this act, actions taken by a board of trustees or subsidiary board shall be by a vote of a majority of the members serving on the board or subsidiary board.
History:
Add. 1988, Act 502, Eff. Jan. 1, 1989
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-2 - Chapter 2 (331.1201...331.1262) › Section 331.1260 - Board of Trustees and Subsidiary Board; Availability of Writings to Public; Confidentiality.

331.1260 Board of trustees and subsidiary board; availability of writings to public; confidentiality.
Sec. 260.
A writing prepared, owned, used, in the possession of, or retained by a board of trustees or subsidiary board of a corporation incorporated by a city or village in the performance of an official function shall be made available to the public in compliance with the freedom of information act, Act No. 442 of the Public Acts of 1976, being sections 15.231 to 15.246 of the Michigan Compiled Laws. This section does not abrogate any confidentiality provisions established by state or federal law, including, but not limited to, those pertaining to the provision or review of health services.
History:
Add. 1988, Act 502, Eff. Jan. 1, 1989
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-2 - Chapter 2 (331.1201...331.1262) › Section 331.1261 - Board of Trustees and Subsidiary Board; Compensation and Expenses; Bond; Trustees as Public Servants; Policies and Procedures; Conflicts of Interest; Disclosure.

331.1261 Board of trustees and subsidiary board; compensation and expenses; bond; trustees as public servants; policies and procedures; conflicts of interest; disclosure.
Sec. 261.
(1) Each trustee of a corporation or subsidiary corporation incorporated by a city or village may receive compensation as established by the city council or village council for his or her services as a trustee, including, but not limited to, attendance at meetings of the board of trustees or subsidiary board, or their committees, and per diem and travel expenses, at rates approved by the city council or village council. A trustee may receive reimbursement for other necessary expenses which are properly substantiated and approved by the board of trustees or subsidiary board. A corporation or subsidiary corporation may provide travel and accident insurance for its trustees.
(2) A bond shall not be required for trustees or officers of corporations or subsidiary corporations incorporated by a city or village.
(3) Trustees shall be considered public servants subject to Act No. 317 of the Public Acts of 1968, being sections 15.321 to 15.330 of the Michigan Compiled Laws, to the extent provided in that act, and subject to any other applicable law with respect to conflict of interest. A board of trustees may establish policies and procedures for a corporation and any subsidiary corporations requiring periodic disclosure of relationships which may give rise to conflicts of interest. A board of trustees may require that a trustee who has a direct interest in any matter before a corporation or a subsidiary corporation disclose the trustee's interest and any reasons reasonably known to the trustee why the transaction may not be in the best interest of the corporation or the subsidiary corporation before the corporation or subsidiary corporation takes any action with respect to the matter. The disclosure shall become part of the record of the corporation's or subsidiary corporation's proceedings.
History:
Add. 1988, Act 502, Eff. Jan. 1, 1989
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-2 - Chapter 2 (331.1201...331.1262) › Section 331.1262 - Corporation and Subsidiary Corporation as Body Corporate; Powers; Liability or Debt.

331.1262 Corporation and subsidiary corporation as body corporate; powers; liability or debt.
Sec. 262.
Each corporation and subsidiary corporation incorporated by a city or village and organized under this act shall be a body corporate with power to sue and be sued and to adopt an official seal and alter the official seal at its discretion. A debt, claim, liability, corporation obligation, note, bond, or other obligation incurred by a corporation or a subsidiary corporation after the effective date of the incorporation shall not be a liability or debt of or enforceable against the city or village, except as specifically otherwise provided by written agreement of the city or village approved by the city council or village council. A debt, claim, liability, corporation obligation, note, bond, or other obligation incurred by a subsidiary corporation shall not be a liability or debt of or enforceable against its parent corporation or another subsidiary corporation nor shall any debt, claim, liability, corporation obligation, note, bond, or other obligation incurred by a corporation be a liability or debt of or enforceable against its subsidiaries, except as specifically otherwise provided in writing duly authorized by the corporation or subsidiary corporation charged.
History:
Add. 1988, Act 502, Eff. Jan. 1, 1989
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-3 - Chapter 3 (331.1301...331.1307) › Section 331.1301 - Corporation and Subsidiary Corporation; Powers Generally.

331.1301 Corporation and subsidiary corporation; powers generally.
Sec. 301.
Each corporation and subsidiary corporation governed by this act shall possess all of the powers necessary to carry out the purposes of its incorporation and those incident thereto. Such powers shall be vested in and exercised by its board of trustees or subsidiary board. The enumeration of any powers in this act shall not be considered as a limitation upon the general powers of the corporation or subsidiary corporation.
History:
1987, Act 230, Eff. Feb. 27, 1988
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-3 - Chapter 3 (331.1301...331.1307) › Section 331.1302 - Bylaws.

331.1302 Bylaws.
Sec. 302.
Each corporation, and each subsidiary corporation with the approval of its parent corporation, may adopt and amend 1 or more sets of bylaws consistent with the applicable provisions of this act, the open meetings act, Act No. 267 of the Public Acts of 1976, being sections 15.261 to 15.275 of the Michigan Compiled Laws, its articles of incorporation, and other applicable law providing for conduct of its affairs and operation of its activities and health care facilities, which may include, but shall not be limited to, provisions with respect to the following:
(a) The frequency, call, and conduct of meetings of the board of trustees or subsidiary board.
(b) The powers and responsibilities of officers, including the chief executive officer.
(c) The size, manner of appointment, and term of committees, which, except as otherwise provided in the bylaws, may include persons who are not trustees, and the purposes and powers of such committees. Responsibility may be assigned to committees for monitoring implementation of policies adopted by the board of trustees or subsidiary board and for the formulation of budgets, plans, and policies and the development of other recommendations for adoption by the board of trustees or subsidiary board. Committees shall not be empowered to exercise governmental or proprietary authority or to perform a governmental or proprietary function.
(d) Procedures for appointment, removal, and discipline of medical staff or other direct providers of health care and for delineation of their clinical privileges, together with provisions for the organization of such staff for the purpose of reviewing and improving the health services provided, and for administrative and other purposes.
(e) The purposes, organization, and control of auxiliaries and other voluntary organizations supporting the work of the corporation or subsidiary corporation.
History:
1987, Act 230, Eff. Feb. 27, 1988
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-4 - Chapter 4 (331.1401...331.1415) › Section 331.1401 - Board of Trustees or Subsidiary Board; Power to Borrow Money and Issue Notes; Resolution; Applicability of Revised Municipal Finance Act.

331.1401 Board of trustees or subsidiary board; power to borrow money and issue notes; resolution; applicability of revised municipal finance act.
Sec. 401.
(1) A board of trustees or subsidiary board may borrow money and issue notes, which shall mature not more than 18 months from the date of their issuance, for the purpose of meeting current expenses of operation and maintenance of its health care facilities and health services. The resolution authorizing the issuance of the notes shall provide for the pledging of income and revenues of the corporation or subsidiary corporation for the payment of the notes, and may also provide for a special sinking fund into which there shall be paid as collected, a sufficient fund from the revenues of the corporation or subsidiary corporation to retire both the principal and interest of the notes at or before maturity. The resolution may also provide for the mortgaging, pledging, or granting of security interests or other liens in other assets of the corporation or subsidiary corporation as additional security for the payment of the notes.
(2) Except as provided in subsection (3), notes issued under this section are not subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821. The issuance of notes described in this subsection is subject to the agency financing reporting act.
(3) Notes issued under this section that pledge the full faith and credit of the corporation are subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821.
History:
1987, Act 230, Eff. Feb. 27, 1988 ;-- Am. 1988, Act 502, Eff. Jan. 1, 1989 ;-- Am. 2002, Act 395, Imd. Eff. May 30, 2002
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-4 - Chapter 4 (331.1401...331.1415) › Section 331.1402 - Corporation or Subsidiary Corporation; Additional Powers; Prohibited Conduct.

331.1402 Corporation or subsidiary corporation; additional powers; prohibited conduct.
Sec. 402.
In addition to the powers provided elsewhere in this act, a corporation or subsidiary corporation may, subject to approval of the county board of commissioners, city council, or village council, borrow money, issue bonds, and exercise the powers provided in the revenue bond act of 1933, Act No. 94 of the Public Acts of 1933, being sections 141.101 to 141.139 of the Michigan Compiled Laws, or issue bonds, notes, or other obligations pursuant to other applicable law. However, whether or not otherwise permitted by law, a corporation or a subsidiary corporation shall not borrow funds from, lease property from, or acquire property pursuant to a lease purchase agreement with a local hospital authority incorporated under the hospital finance authority act, Act No. 38 of the Public Acts of 1969, being sections 331.31 to 331.84 of the Michigan Compiled Laws, nor shall a corporation or subsidiary corporation otherwise receive the proceeds of bonds issued by such a local hospital authority, except as consideration for property transferred by the corporation or subsidiary corporation to a third party.
History:
1987, Act 230, Eff. Feb. 27, 1988 ;-- Am. 1988, Act 502, Eff. Jan. 1, 1989
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-4 - Chapter 4 (331.1401...331.1415) › Section 331.1404 - Corporation Obligations as General Obligations of Issuing Corporation or Subsidiary Corporation; Corporation Obligations Neither Local Governmental Unit nor State Debt.

331.1404 Corporation obligations as general obligations of issuing corporation or subsidiary corporation; corporation obligations neither local governmental unit nor state debt.
Sec. 404.
(1) Except as expressly provided by the corporation or subsidiary corporation or as otherwise provided in this act, every issue of its corporation obligations shall be general obligations of the issuing corporation or subsidiary corporation payable out of any properties, revenues, or money available to the corporation or subsidiary corporation, including, without limitation, revenues derived from the operation of health services, from the operation, lease, or disposition of health care facilities and other properties, from gifts or grants available for these purposes, from amounts borrowed, including refinancings or refundings, from the proceeds of health care facilities and other assets and from investment earnings from any of those sources, subject only to agreements with holders of particular corporation obligations or holders of other notes and obligations mortgaging, pledging, or granting security interests or other liens in particular properties, revenues, or money.
(2) A corporation obligation shall not be an obligation of nor constitute a debt of the local governmental unit for purposes of any constitutional, charter or statutory limitation unless the local governmental unit has pledged its full faith and credit to the guaranty of such corporation obligation pursuant to section 305. A corporation obligation shall not constitute a debt of or in any way obligate the state.
History:
1987, Act 230, Eff. Feb. 27, 1988 ;-- Am. 1988, Act 502, Eff. Jan. 1, 1989
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-4 - Chapter 4 (331.1401...331.1415) › Section 331.1407 - Refunding Corporation Obligations.

331.1407 Refunding corporation obligations.
Sec. 407.
(1) To protect the rights of the holders of bonds or other obligations to be refunded, the proceeds of corporation obligations issued for refunding purposes and any other funds set aside for such purposes, and the investment earnings and profits, to the extent required to be held for future retirement of bonds or other obligations to be refunded, for interest or premiums thereon, or for expenses relating to the refunding, shall be held in trust by a qualified bank or savings and loan association organized under the laws of the United States or any state or the state treasurer pursuant to a trust agreement with the corporation or subsidiary corporation issuing the refunding corporation obligation. This subsection shall not apply if the instruments governing the bonds or other obligation to be refunded require a different disposition of such funds, in which case the terms of the instruments shall apply.
(2) Proceeds of refunding corporation obligations not immediately required for the purposes set forth in subsection (1) may be invested pursuant to the trust agreement in direct obligations of the United States, or in obligations, the principal and interest of which are guaranteed by the United States. If, however, the instruments governing the bonds or other obligations to be refunded provide for defeasance of security upon issuance of the refunding corporation obligation or contain different requirements for the investment of funds, the funds shall be deposited and invested in accordance with the requirements of the instruments.
History:
1987, Act 230, Eff. Feb. 27, 1988
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-4 - Chapter 4 (331.1401...331.1415) › Section 331.1408 - Security Instruments to Continue in Effect Until Principal and Interest on Corporation Obligations Paid in Full; Terms of Security Instrument; Recital.

331.1408 Security instruments to continue in effect until principal and interest on corporation obligations paid in full; terms of security instrument; recital.
Sec. 408.
(1) The provisions of this act, any resolution and any mortgage, deed of trust, or other security instrument shall continue in effect until all principal and interest on the corporation obligations has been fully paid or payment has been duly provided for. Any resolution, mortgage, deed of trust, or other security instrument governing the issuance of or securing corporation obligations may provide terms under which it is enforceable by the holder or holders of corporation obligations or a trustee or trustees for their benefit by mandamus, foreclosure, or other appropriate action in any court of competent jurisdiction.
(2) The resolution authorizing corporation obligations shall contain a recital that they are issued pursuant to this act, which recital shall be conclusive evidence of their validity and the regularity of their issuance.
History:
1987, Act 230, Eff. Feb. 27, 1988
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-4 - Chapter 4 (331.1401...331.1415) › Section 331.1409 - Lien of Pledge.

331.1409 Lien of pledge.
Sec. 409.
Any pledge made by a corporation or a subsidiary corporation to secure corporation obligations shall be valid and binding from the time the pledge is made. The money or property so pledged and thereafter received by the corporation or subsidiary corporation shall immediately be subject to the lien of the pledge without any physical delivery thereof or further act. The lien of the pledge shall be valid and binding against all parties having claims of any kind in tort, contract, or otherwise against the corporation or the subsidiary corporation, without regard to whether such parties have notice thereof. Neither the resolution nor any instrument by which a pledge is made need be recorded.
History:
1987, Act 230, Eff. Feb. 27, 1988
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-4 - Chapter 4 (331.1401...331.1415) › Section 331.1410 - Personal Liability on Notes or Corporation Obligations.

331.1410 Personal liability on notes or corporation obligations.
Sec. 410.
Neither the trustees of a corporation or subsidiary corporation nor any person executing notes or corporation obligations under this act shall be liable personally on the notes or corporation obligations or be subject to any personal liability or accountability by reason of the issuance thereof.
History:
1987, Act 230, Eff. Feb. 27, 1988
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-4 - Chapter 4 (331.1401...331.1415) › Section 331.1411 - Pledge and Agreement of State.

331.1411 Pledge and agreement of state.
Sec. 411.
The state pledges and agrees with the holders of notes and corporation obligations issued under this act, that the state will not limit or alter the rights vested in any corporation or subsidiary corporation to fulfill the terms of any agreements made with the holders thereof, nor will in any way impair the rights and remedies of the holders until the notes or corporation obligations, together with interest thereon, with interest on any unpaid installments of interest, if applicable, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged. Any corporation or subsidiary corporation is authorized to include this pledge and agreement of the state in any agreement with holders of such notes or corporation obligations.
History:
1987, Act 230, Eff. Feb. 27, 1988
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-4 - Chapter 4 (331.1401...331.1415) › Section 331.1412 - Corporation Obligations; Statutory Provisions to Which Issuance of Obligations Subject; Legality.

331.1412 Corporation obligations; statutory provisions to which issuance of obligations subject; legality.
Sec. 412.
(1) Except as provided in subsection (2), the corporation obligations shall not be subject to the provisions of the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821. The issuance of corporate obligations described in this subsection is subject to the agency financing reporting act.
(2) Corporate obligations for which a local governmental unit pledges its full faith and credit to guarantee payment are subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821.
History:
1987, Act 230, Eff. Feb. 27, 1988 ;-- Am. 1988, Act 502, Eff. Jan. 1, 1989 ;-- Am. 2002, Act 395, Imd. Eff. May 30, 2002
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-4 - Chapter 4 (331.1401...331.1415) › Section 331.1413 - Corporation Obligations as Negotiable Instruments Under Uniform Commercial Code.

331.1413 Corporation obligations as negotiable instruments under uniform commercial code.
Sec. 413.
Whether or not notes or corporation obligations issued pursuant to this act are of such form or character as to be negotiable instruments under the uniform commercial code, Act No. 174 of the Public Acts of 1962, being sections 440.1101 to 440.11102 of the Michigan Compiled Laws, the notes and corporation obligations authorized to be issued under this act are negotiable instruments, within the meaning of and for all purposes of the uniform commercial code, Act No. 174 of the Public Acts of 1962, subject only to the provisions of the notes or corporation obligations for registration.
History:
1987, Act 230, Eff. Feb. 27, 1988
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-4 - Chapter 4 (331.1401...331.1415) › Section 331.1414 - Notes and Corporation Obligations as Investment Securities.

331.1414 Notes and corporation obligations as investment securities.
Sec. 414.
The notes and corporation obligations of any corporation or subsidiary issued pursuant to this act are securities in which all public officers and bodies of this state and all municipalities, municipal subdivisions, and public bodies corporate, all insurance companies and associations, and other persons carrying on the insurance business, all banks, trust companies, savings banks and savings associations, savings and loan associations, credit unions, investment companies, personal representatives, administrators, conservators, guardians, executors, trustees and other fiduciaries, and all other persons whatsoever who are authorized to invest in bonds or other obligations of the state, may properly and legally invest funds, including capital, in their control or belonging to them.
History:
1987, Act 230, Eff. Feb. 27, 1988
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-4 - Chapter 4 (331.1401...331.1415) › Section 331.1415 - State Covenants With Purchasers, Subsequent Holders, and Transferees of Notes and Corporation Obligations.

331.1415 State covenants with purchasers, subsequent holders, and transferees of notes and corporation obligations.
Sec. 415.
The state covenants with the purchasers and all subsequent holders and transferees of notes and corporation obligations issued pursuant to this act, in consideration of the acceptance of and payment for such notes and corporation obligations issued pursuant to this act and the income therefrom and all gifts, grants, revenues, receipts, and other money received or to be received, pledged to pay or secure the payment of such notes or corporation obligations shall be free and exempt from all state, city, county, or other taxation provided by the laws of this state, except for estate, inheritance and gift taxes, and taxes on transfers.
History:
1987, Act 230, Eff. Feb. 27, 1988
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-5 - Chapter 5 (331.1501...331.1507) › Section 331.1501 - Financial Reports and Annual Audits.

331.1501 Financial reports and annual audits.
Sec. 501.
Each corporation and subsidiary corporation shall prepare and file with the state treasurer annual financial reports and annual audits of its financial records in accordance with the uniform budgeting and accounting act, Act No. 2 of the Public Acts of 1968, being sections 141.421 to 141.440a of the Michigan Compiled Laws. Copies of all financial reports and annual audits filed with the state treasurer shall be filed with the county clerk, city clerk, or village clerk within the time prescribed by Act No. 2 of the Public Acts of 1968, for filing with the state treasurer, including extensions.
History:
1987, Act 230, Eff. Feb. 27, 1988 ;-- Am. 1988, Act 502, Eff. Jan. 1, 1989
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-5 - Chapter 5 (331.1501...331.1507) › Section 331.1503 - Dissolution of Corporation or Subsidiary Corporation.

331.1503 Dissolution of corporation or subsidiary corporation.
Sec. 503.
(1) Any corporation which has completed the purposes for which it was organized shall be dissolved by the adoption of a resolution by the affirmative vote of 2/3 of the members serving on its board of trustees, approved by a majority of the members serving on the county board of commissioners, city council, or village council and filed with the secretary of state. Unless a later date is specified in the resolution, such dissolution shall be effective upon filing with the secretary of state. Upon dissolution, all property of the corporation, real and personal, shall immediately vest in the local governmental unit, without further act or deed, and the local governmental unit shall be liable for all undischarged debts and liabilities of the corporation.
(2) Any subsidiary corporation which has completed the purposes for which it was organized shall be dissolved by the adoption of a resolution by the affirmative vote of 2/3 of the members serving on its subsidiary board, approved by a majority of the members serving on the board of trustees of its parent corporation and filed with the secretary of state. Unless a later date is specified in the resolution, such dissolution shall be effective upon filing with the secretary of state. Upon dissolution, all property of the subsidiary corporation shall immediately vest in its parent corporation, without further act or deed, and the parent corporation shall be liable for all undischarged debts and liabilities of the subsidiary corporation.
(3) Notwithstanding the provisions of subsections (1) and (2), a corporation or subsidiary corporation shall not dissolve as long as any notes or corporation obligations issued pursuant to this act remain outstanding, unless such dissolution is specifically authorized by the instruments governing such notes or corporation obligations.
History:
1987, Act 230, Eff. Feb. 27, 1988 ;-- Am. 1988, Act 502, Eff. Jan. 1, 1989
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-5 - Chapter 5 (331.1501...331.1507) › Section 331.1504 - Tax Exemption.

331.1504 Tax exemption.
Sec. 504.
All property of any corporation or nonprofit subsidiary corporation and its income and operation is exempt from all taxation by the state or by any taxing unit therein.
History:
1987, Act 230, Eff. Feb. 27, 1988
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-5 - Chapter 5 (331.1501...331.1507) › Section 331.1505 - Cumulative Authority for Exercise of Various Powers; Exercise of Powers Enumerated or Not Enumerated.

331.1505 Cumulative authority for exercise of various powers; exercise of powers enumerated or not enumerated.
Sec. 505.
(1) This act grants cumulative authority for the exercise of the various powers conferred in this act, and neither the powers nor any notes or corporation obligations issued under this act shall be affected or limited by any other statutory provision now or hereafter in force, other than as may be provided in this act, it being the purpose and intention of this act to create full, separate, and complete additional powers.
(2) The enumeration in this act of powers of county public hospitals and corporations and subsidiary corporations and their respective boards of trustees and subsidiary boards does not mean that those powers were not reasonably inferable or otherwise authorized under Act No. 350 of the Public Acts of 1913, or Act No. 109 of the Public Acts of 1945, or that powers not enumerated in this act may not be exercised, so long as such exercise is consistent with the purposes of this act, and not specifically prohibited by law.
(3) The enumeration in this act of powers of city public hospitals and village public hospitals and corporations and subsidiary corporations and their respective boards of trustees and subsidiary boards does not mean that those powers were not reasonably inferable or authorized under other state law or under city or village ordinance or charter, or that powers not enumerated in this act may not be exercised, so long as such exercise is consistent with the purposes of this act, and not specifically prohibited by law.
History:
1987, Act 230, Eff. Feb. 27, 1988 ;-- Am. 1988, Act 502, Eff. Jan. 1, 1989
2023 Michigan Compiled Laws › Chapter 331 - Hospitals › Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507) › 230-1987-5 - Chapter 5 (331.1501...331.1507) › Section 331.1507 - Effective Date.

331.1507 Effective date.
Sec. 507.
This act shall take effect upon the expiration of 60 days after the date it is enacted into law.
History:
1987, Act 230, Eff. Feb. 27, 1988
2023 Michigan Compiled Laws › Chapter 332 - Tuberculosis Sanatoria › Repealed - Act 115 of 1929 - Tuberculosis Sanatorium Commission (332.1 - 332.7)

TUBERCULOSIS SANATORIUM COMMISSION
Act 115 of 1929
332.1-332.7 Repealed. 1978, Act 368, Eff. Sept. 30, 1978.
2023 Michigan Compiled Laws › Chapter 332 - Tuberculosis Sanatoria › Repealed - Act 133 of 1931 - Northern State Tuberculosis Sanatorium (332.91 - 332.94)

NORTHERN STATE TUBERCULOSIS SANATORIUM
Act 133 of 1931
332.91-332.94 Repealed. 1963, Act 21, Imd. Eff. Apr. 25, 1963.
2023 Michigan Compiled Laws › Chapter 332 - Tuberculosis Sanatoria › Repealed - Act 343 of 1917 - Joint County Tuberculosis Sanatoriums (332.101 - 332.118)

JOINT COUNTY TUBERCULOSIS SANATORIUMS
Act 343 of 1917
332.101-332.118 Repealed. 1978, Act 368, Eff. Sept. 30, 1978.
2023 Michigan Compiled Laws › Chapter 332 - Tuberculosis Sanatoria › Repealed - Act 177 of 1925 - Tuberculosis and Hospital Sanatoriums (332.151 - 332.164)

TUBERCULOSIS AND HOSPITAL SANATORIUMS
Act 177 of 1925
332.151-332.164 Repealed. 2018, Act 311, Imd. Eff. June 29, 2018.
2023 Michigan Compiled Laws › Chapter 332 - Tuberculosis Sanatoria › Repealed - Act 252 of 1951 - Enlargement of County and City Sanatoriums (332.201 - 332.204)

ENLARGEMENT OF COUNTY AND CITY SANATORIUMS
Act 252 of 1951
332.201-332.204 Repealed. 1978, Act 368, Eff. Sept. 30, 1978.
2023 Michigan Compiled Laws › Chapter 332 - Tuberculosis Sanatoria › Repealed - Act 5 of 1951 (Ex. Sess.) - Enlargement of Tuberculosis Hospital Facilities (332.231 - 332.239)

ENLARGEMENT OF TUBERCULOSIS HOSPITAL FACILITIES
Act 5 of 1951 (Ex. Sess.)
332.231-332.239 Repealed. 1978, Act 368, Eff. Sept. 30, 1978.
2023 Michigan Compiled Laws › Chapter 332 - Tuberculosis Sanatoria › Repealed - Act 139 of 1952 - Herman Kiefer Hospital; Tuberculosis and Contagious Diseases Facilities (332.251 - 332.255)

HERMAN KIEFER HOSPITAL; TUBERCULOSIS AND CONTAGIOUS DISEASES FACILITIES
Act 139 of 1952
332.251-332.255 Repealed. 1978, Act 368, Eff. Sept. 30, 1978.
2023 Michigan Compiled Laws › Chapter 332 - Tuberculosis Sanatoria › Repealed - Act 166 of 1951 - Southwestern Michigan Tuberculosis Sanatorium (332.301 - 332.304)

SOUTHWESTERN MICHIGAN TUBERCULOSIS SANATORIUM
Act 166 of 1951
332.301-332.304 Repealed. 1969, Act 56, Imd. Eff. July 21, 1969.
2023 Michigan Compiled Laws › Chapter 333 - Health › Act 606 of 1978 - Poison Control Center Network (333.1011 - 333.1013) › Section 333.1011 - State Plan for Poison Control Center Network; Establishment.

333.1011 State plan for poison control center network; establishment.
Sec. 1.
The department of public health shall establish a state plan for the creation and operation of a poison control center network, providing for regional poison control centers, including appropriate services in the Upper Peninsula.
History:
1978, Act 606, Imd. Eff. Jan. 5, 1979