HB-6543, As Passed Senate, December 11, 2008
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been organized under an act other than this act and not repealed by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
House Bill No. 6543 as amended December 11, 2008
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. 1104.
(b)>> Senate Bill No. 1588.
<<(c)>> Senate Bill No. 1589.
<<(d)>> Senate Bill No. 1590.
<<(e)>> Senate Bill No. 1592.