Bill Text: MI HB5472 | 2023-2024 | 102nd Legislature | Introduced
Bill Title: Businesses: business corporations; business corporation act; amend to reflect amendments to the public health code. Amends sec. 213 of 1972 PA 284 (MCL 450.1213). TIE BAR WITH: HB 5477'24
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2024-02-22 - Bill Electronically Reproduced 02/22/2024 [HB5472 Detail]
Download: Michigan-2023-HB5472-Introduced.html
HOUSE BILL NO. 5472
A bill to amend 1972 PA 284, entitled
"Business corporation act,"
by amending section 213 (MCL 450.1213), as amended by 2001 PA 276.
the people of the state of michigan enact:
Sec. 213. (1) A corporation formed or existing under or subject to this act other than a bank holding company registered or to be registered as a bank holding company under the bank holding company act of 1956, chapter 240, 70 Stat. Stat 133, shall not assume a name that implies that it is a banking corporation, an insurance or surety company, or a trust company, and the corporation shall not use the word "bank", "industrial bank", "deposit", "surety", "security", "trust", or "trust company" in its corporate name or use a combination of the letters or words with other letters or words in its corporate name to indicate or convey the idea of a bank or banking or industrial banking activity or security unless from the other words constituting the name it is clear that the business conducted does not include the business of banking.
(2) A corporation formed or existing under or subject to this act that is licensed or is to be licensed as a nursing home under article 17 of the public health code, 1978 PA 368, MCL 333.20101 to 333.22260, 333.22121, may use the term "health center" or "health care center" or a term conveying a meaning substantially similar to those terms, or the term "rehabilitation center", as long as those terms do not conflict with the terms prohibited by section 21712 of the public health code, 1978 PA 368, MCL 333.21712.
Enacting section 1. This amendatory act does not take effect unless Senate Bill No.____ or House Bill No. 5477 (request no. 01038'23) of the 102nd Legislature is enacted into law.
