HB-6543, As Passed Senate, December 19, 2008

HOUSE SUBSTITUTE FOR SENATE SUBSTITUTE FOR

HOUSE BILL NO. 6543

     A bill to amend 1982 PA 162, entitled

"Nonprofit corporation act,"

by amending section 123 (MCL 450.2123), as amended by 1990 PA 39.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

     Sec. 123. (1) Unless otherwise provided in, and to the extent

not inconsistent with, the act under which a corporation is or has

been formed, this act applies to a corporation which that is or has

been organized under an act other than this act and not repealed by

this act.

     (2) A corporation covered by subsection (1) includes, but is

not limited to, a all of the following:

     (a) A cooperative corporation classified as a nonprofit

corporation pursuant to under section 98 of Act No. 327 of the

Public Acts of 1931, as amended, being section 450.98 of the

Michigan Compiled Laws; a 1931 PA 327, MCL 450.98.

     (b) A secret society or lodge. ; a

     (c) A trustee corporation holding property for charitable,

religious, benevolent, educational, or other public benefit

purposes. ; a

     (d) A church trustee corporation. ; an

     (e) An educational corporation which that is organized as a

trustee corporation ; or a nonprofit corporation, an or a nonprofit

corporation.

     (f) An ecclesiastical corporation. , and a

     (g) A public building corporation.

     (h) A street railway under the nonprofit street railway act,

1867 PA 35, MCL 472.1 to 472.31.

     (3) This Except as provided in subsection (2)(h), this act

does not apply to insurance, surety, credit unions, savings and

loan associations, fraternal benefit societies, railroad, bridge,

and or tunnel companies, union depot companies, and banking

corporations.

     Enacting section 1. This amendatory act does not take effect

unless all of the following bills of the 94th Legislature are

enacted into law:

     (a) Senate Bill No. 1588.

     (b) Senate Bill No. 1589.

     (c) Senate Bill No. 1590.

     (d) Senate Bill No. 1592.