Michigan § 390.1576 Acquiring, holding, and disposing funds and property.

Michigan Statutes

§ 390.1576 — Acquiring, holding, and disposing funds and property.

Michigan § 390.1576

Ch. 390UNIVERSITIES AND COLLEGES

Act 36 of 2002CAREER DEVELOPMENT AND DISTANCE LEARNING ACT (390.1571-390.1579)

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Bluebook

Mich. Comp. Laws § 390.1576 (2026).

Text

CAREER DEVELOPMENT AND DISTANCE LEARNING ACT (EXCERPT) Act 36 of 2002 390.1576 Acquiring, holding, and disposing funds and property. Sec.

6.A registered distance learning corporation shall acquire, hold, and dispose of its funds and property only for the lawful purposes of the corporation and for the benefit of the public. A registered distance learning corporation shall conduct its activities, including acquiring, holding, and disposing of funds and property, in a manner within the scope of the purposes of the corporation as specifically set forth in its articles and consistent with this act.

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CAREER DEVELOPMENT AND DISTANCE LEARNING ACT (EXCERPT) Act 36 of 2002 390.1576 Acquiring, holding, and disposing funds and property. Sec. 6. A registered distance learning corporation shall acquire, hold, and dispose of its funds and property only for the lawful purposes of the corporation and for the benefit of the public. A registered distance learning corporation shall conduct its activities, including acquiring, holding, and disposing of funds and property, in a manner within the scope of the purposes of the corporation as specifically set forth in its articles and consistent with this act.

Legislative History

2002, Act 36 , Imd. Eff. Mar. 7, 2002 Compiler's Notes: For transfer of powers and duties of the director of the department of career development to the department of labor and economic growth, see E.R.O. No. 2003-1, compiled at MCL 445.2011.