NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982
450.2103 Construction and application of act.
This act shall be liberally construed and applied to promote its underlying purposes and policies which include:
(a) To simplify, clarify, and modernize the law governing nonprofit corporations.
(b) To provide a general corporate form for the conduct of lawful nonprofit activities with such variations and modifications from the form as interested parties in any corporation may agree upon, subject only to overriding interests of this state and of third parties.
History: 1982, Act 162, Eff. Jan. 1, 1983
© 2009 Legislative Council, State of Michigan