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MI HB5508

Bill

Official Source

Status

Engrossed

4/11/2018

Primary Sponsor

Larry Inman

Click for details

Origin

House of Representatives

99th Legislature

AI Summary

  • Adds Section 19 to the 1897 PA 230 act governing summer resort associations, allowing these associations to convert into domestic nonprofit corporations.

  • Conversion process must satisfy the same requirements applicable to business organization conversions under Section 746 of the Nonprofit Corporation Act (1982 PA 162, MCL 450.2746).

  • Defines "domestic nonprofit corporation" as a domestic corporation as specified in Section 106 of the Nonprofit Corporation Act (1982 PA 162, MCL 450.2106).

  • Takes effect 90 days after enactment into law, contingent on passage of House Bill 5509.

Legislative Description

Businesses; associations; merger or conversion of summer resort and park association into nonprofit corporations; authorize. Amends 1897 PA 230 (MCL 455.1 - 455.24) by adding sec. 19. TIE BAR WITH: HB 5509'18

State agencies (existing): licensing and regulatory affairs

Last Action

Placed On Order Of Third Reading With Substitute S-1

5/17/2018

Committee Referrals

Commerce4/12/2018
Commerce And Trade1/31/2018

Full Bill Text

No bill text available