MI HB6542

Removes the requirement that a lake board be for a "public" inland lake, allowing dissolution procedures to apply to both public and private inland lakes.

For public inland lakes, allows governing bodies to hold dissolution hearings on their own initiative without requiring a petition.

For public or private inland lakes, permits dissolution hearings upon petition by either 2/3 of property owners abutting the lake or 2/3 of property owners assessed for 2/3 of the improvement costs.

Changes terminology from "freeholders" to "property owners" in the petition requirements.

Maintains existing dissolution requirements including public hearings, payment of all outstanding indebtedness, refund of excess funds, and the lake board's determination that it is no longer necessary.