Michigan § 450.186b Public building corporations; powers as to property; state contracts, leases; bonds; by-laws.

Michigan Statutes

§ 450.186b — Public building corporations; powers as to property; state contracts, leases; bonds; by-laws.

Michigan § 450.186b

Ch. 450CORPORATIONS

Act 327 of 1931MICHIGAN GENERAL CORPORATION STATUTE (450.1-450.192)

This text of Michigan § 450.186b (Public building corporations; powers as to property; state contracts, leases; bonds; by-laws.) is published on Counsel Stack Legal Research, covering Michigan primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mich. Comp. Laws § 450.186b (2026).

Text

MICHIGAN GENERAL CORPORATION STATUTE (EXCERPT) Act 327 of 1931 450.186b Public building corporations; powers as to property; state contracts, leases; bonds; by-laws. Sec. 186b. Every such public building corporation shall have power to take and hold by bequest, devise, gift, purchase or lease, either absolutely or in trust, for its object and purpose, any property, real, personal or mixed, without limitation as to the amount of value, except such limitations, if any, as the legislature shall hereafter specifically impose; to convey such property and to invest and reinvest the principal thereof and deal with and expend the income of the corporation in such manner as in the judgment of the trustees will best promote its objects; to enter into contracts and leases with the state of Michigan; 

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MICHIGAN GENERAL CORPORATION STATUTE (EXCERPT) Act 327 of 1931 450.186b Public building corporations; powers as to property; state contracts, leases; bonds; by-laws. Sec. 186b. Every such public building corporation shall have power to take and hold by bequest, devise, gift, purchase or lease, either absolutely or in trust, for its object and purpose, any property, real, personal or mixed, without limitation as to the amount of value, except such limitations, if any, as the legislature shall hereafter specifically impose; to convey such property and to invest and reinvest the principal thereof and deal with and expend the income of the corporation in such manner as in the judgment of the trustees will best promote its objects; to enter into contracts and leases with the state of Michigan; to borrow money and issue revenue bonds for the repayment thereof with interest, and may in like case mortgage its property as security for its debts: Provided, That the by-laws expressly authorize such action to be taken, or that the same is authorized by resolution of the trustees at any duly called meeting at which a quorum is present.