Section 331.1305a – Restructure of Corporation or Subsidiary Corporation as Nonprofit.
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 […]
Section 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.
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, […]
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.
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 […]
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 […]
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 […]
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 […]
Section 331.1258 – Board of Trustees and Subsidiary Board Incorporated by City or Village; Appointment and Terms of Trustees; Qualifications; Oath; Removal From Office; Notice of Hearing; Hearing; Vote.
331.1258 Board of trustees and subsidiary board incorporated by city or village; appointment and terms of trustees; qualifications; oath; removal from office; notice of hearing; hearing; vote. Sec. 258. (1) All of the following apply to each board of trustees and subsidiary board of a corporation incorporated by a city or village: (a) The board […]
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 […]
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 […]
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 […]