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 […]
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 […]
331.1303 Board of trustees and subsidiary board; powers generally. Sec. 303. Without limiting the powers described in section 301 and elsewhere in this act, each board of trustees and subsidiary board, in furtherance of its purposes and consistent with the provisions of its articles of incorporation, but subject to applicable licensing and other regulatory requirements, […]
331.1304 Board of trustees and subsidiary board; additional powers. Sec. 304. Without limiting the powers described in section 301 and elsewhere in this act, each board of trustees and subsidiary board, in furtherance of its purposes and consistent with its articles of incorporation, but subject to applicable licensing and other regulatory requirements, may do any […]
331.1305 Powers of local governmental unit generally. Sec. 305. Subject to applicable licensing and other regulatory requirements, a local governmental unit may do any or all of the following: (a) Acquire health care facilities by purchase, gift, devise, lease, sublease, installment purchase agreement, land contract, option, or other means; construct, add to, repair, remodel, renovate, […]
331.1305a Restructure of corporation or subsidiary corporation as nonprofit. Sec. 305a. (1) Subject to applicable licensing and other regulatory requirements, the requirements of the nonprofit act, and the requirements of this section, the board of trustees or the subsidiary board may restructure a corporation or subsidiary corporation as a nonprofit corporation subject to the nonprofit […]
331.1306 Board of trustees or subsidiary board; sale or transfer of ownership or operation; terms; acceptance of notes, bonds, or obligations; discrimination prohibited; approval of transfer; transfer not to impair corporate obligation, bond, note, or contract. Sec. 306. (1) Subject to applicable licensing and other regulatory requirements, and subject to the requirements of this section, […]
331.1307 Definitions; retention of employees; continuation of collective bargaining agreements; bargaining representative; standing of employee to commence action; rescission of transactions; continued participation in federal old age, survivors, and disability insurance benefits program. Sec. 307. (1) As used in this section: (a) “Contractor” means an entity which enters into a contract or other agreement with […]
