NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982
450.2106 Definitions; C to E.
(1) "Charitable purpose corporation" means a nonprofit corporation that meets any of the following:
(a) Is exempt or qualifies for exemption under section 501(c)(3) of the internal revenue code, 26 USC 501.
(b) Is a corporation whose purposes, structure, or activities are exclusively those that are described in section 501(c)(3) of the internal revenue code, 26 USC 501.
(c) Is a corporation organized or held out to be organized exclusively for 1 or more charitable purposes.
(2) "Corporation" or "domestic corporation" means a nonprofit corporation.
(3) "Director" means an individual who is a member of the board of a corporation. The term is synonymous with "trustee" of a corporation or other similar designation.
(4) "Electronic transmission" or "electronically transmitted" means any form of communication that meets all of the following:
(a) It does not directly involve the physical transmission of paper.
(b) It creates a record that may be retained and retrieved by the recipient.
(c) It may be directly reproduced in paper form by the recipient through an automated process.
History: 1982, Act 162, Eff. Jan. 1, 1983
Am. 2008, Act 9, Imd. Eff. Feb. 29, 2008
Am. 2008, Act 222, Imd. Eff. July 16, 2008
© 2009 Legislative Council, State of Michigan