Bill Text: MI HB5508 | 2017-2018 | 99th Legislature | Engrossed

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Bill Title: 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

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed - Dead) 2018-05-17 - Placed On Order Of Third Reading With Substitute S-1 [HB5508 Detail]

Download: Michigan-2017-HB5508-Engrossed.html

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HB-5508, As Passed House, April 11, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HOUSE BILL No. 5508

 

 

January 31, 2018, Introduced by Rep. Inman and referred to the Committee on Commerce and Trade.

 

     A bill to amend 1897 PA 230, entitled

 

"An act to provide for the formation of corporations for the

purpose of owning, maintaining and improving lands and other

property kept for the purposes of summer resorts or for ornament,

recreation or amusement, and to repeal all laws or parts of laws in

conflict herewith; and to impose certain duties on the department

of commerce,"

 

(MCL 455.1 to 455.24) by adding section 19.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 19. (1) A summer resort association formed under this act

 

may convert into a domestic nonprofit corporation by satisfying the

 

requirements applicable to the conversion of a business

 

organization under section 746 of the nonprofit corporation act,

 

1982 PA 162, MCL 450.2746.

 

     (2) As used in this section, "domestic nonprofit corporation"

 

means a domestic corporation, as that term is defined in section

 

106 of the nonprofit corporation act, 1982 PA 162, MCL 450.2106.

 

     Enacting section 1. This amendatory act takes effect 90 days

 

after the date it is enacted into law.

 

     Enacting section 2. This amendatory act does not take effect

 

unless Senate Bill No.____ or House Bill No. 5509 (request no.

 

03881'17) of the 99th Legislature is enacted into law.