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NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982
450.2302 Corporation organized upon nonstock basis.
Sec. 302.
A corporation shall be organized upon a stock or nonstock basis. A corporation organized upon a nonstock basis shall be organized upon a membership basis or a directorship basis.
History: 1982, Act 162, Eff. Jan. 1, 1983
© 2009 Legislative Council, State of Michigan
