THE NONPROFIT HEALTH CARE CORPORATION REFORM ACT (EXCERPT)
Act 350 of 1980
550.1218 Health care corporation; prohibited actions.
A health care corporation shall not do any of the following:
(a) Take any action to change its nonprofit status.
(b) Except as otherwise provided in section 220, dissolve, merge, consolidate, mutualize, or take any other action that results in a change in direct or indirect control of the health care corporation or sell, transfer, lease, exchange, option, or convey assets that results in a change in direct or indirect control of the health care corporation.
History: Add. 2002, Act 559, Imd. Eff. Sept. 27, 2002
Am. 2013, Act 4, Imd. Eff. Mar. 18, 2013
Popular Name: Blue Cross-Blue Shield
Popular Name: Act 350
© 2015 Legislative Council, State of Michigan