Section 331.1403 – Corporation or Subsidiary Corporation; Additional Powers; Refinancing or Refunding Indebtedness; Redemption; Limitation; Determination of Board of Trustees or Subsidiary Conclusive; Exception.
331.1403 Corporation or subsidiary corporation; additional powers; refinancing or refunding indebtedness; redemption; limitation; determination of board of trustees or subsidiary conclusive; exception. Sec. 403. (1) Subject to the approvals required under sections 406(1) and 412, a corporation or a subsidiary corporation may do any or all of the following: (a) Borrow money and issue 1 […]
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 […]
Section 331.1405 – Provisions of Resolution Authorizing Issuance of Corporation Obligations as Part of Contract.
331.1405 Provisions of resolution authorizing issuance of corporation obligations as part of contract. Sec. 405. A resolution authorizing issuance of corporation obligations may contain provisions, which shall be part of the contract with the holders of such corporation obligations, as to: (a) Use and disposition of net revenues derived from the operation of health care […]
Section 331.1406 – Corporation Obligations Generally.
331.1406 Corporation obligations generally. Sec. 406. (1) Corporation obligations shall be authorized by resolution adopted by a majority vote of the members serving on the board of trustees of the corporation or the subsidiary board of the subsidiary corporation issuing the corporation obligations. However, the resolution shall not take effect until issuance of the corporation […]
Section 331.1305 – Powers of Local Governmental Unit Generally.
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, […]
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 […]