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Form a Business

Acquiring, holding, and disposing funds and property.

MCL 390.1576
in effect
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390.1576. Acquiring, holding, and disposing funds and property. Sec. 6. A registered distance learning corporation shall acquire, hold, and dispose of its funds and property only for the lawful purposes of the corporation and for the benefit of the public. A registered distance learning corporation shall conduct its activities, including acquiring, holding, and disposing of funds and property, in a manner within the scope of the purposes of the corporation as specifically set forth in its articles and consistent with this act. 2002, Act 36, Imd. Eff. Mar. 7, 2002 [Compiler] For transfer of powers and duties of the director of the department of career development to the department of labor and economic growth, see E.R.O. No. 2003-1, compiled at MCL 445.2011.
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-390-1576Fetched: 10/20/2026

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