MI SB0401

Amends the title of 2010 PA 296 (Art Institute Authorities Act) to include reference to art institutes and expands the scope to cover powers and duties of art institutes.

Art institutes cannot deaccession, sell, lease, pledge, mortgage, or otherwise encumber artworks in their collections except in accordance with the American Alliance of Museums code of ethics or a successor organization's code.

Municipality-owned facilities housing an art institute's primary art collection must be used principally to exhibit, preserve, and maintain that collection.

Municipality-owned art institute facilities cannot be leased, pledged, mortgaged, or otherwise encumbered, and can only be sold if the sale connects to relocating the art collection to a comparable facility within the same municipality.