Sec. 413.
Whether or not notes or corporation obligations issued pursuant to this act are of such form or character as to be negotiable instruments under the uniform commercial code, Act No. 174 of the Public Acts of 1962, being sections 440.1101 to 440.11102 of the Michigan Compiled Laws, the notes and corporation obligations authorized to be issued under this act are negotiable instruments, within the meaning of and for all purposes of the uniform commercial code, Act No. 174 of the Public Acts of 1962, subject only to the provisions of the notes or corporation obligations for registration.
History: 1987, Act 230, Eff. Feb. 27, 1988
Structure Michigan Compiled Laws
Act 230 of 1987 - Municipal Health Facilities Corporations Act (331.1101 - 331.1507)
230-1987-4 - Chapter 4 (331.1401...331.1415)
Section 331.1402 - Corporation or Subsidiary Corporation; Additional Powers; Prohibited Conduct.
Section 331.1406 - Corporation Obligations Generally.
Section 331.1407 - Refunding Corporation Obligations.
Section 331.1409 - Lien of Pledge.
Section 331.1410 - Personal Liability on Notes or Corporation Obligations.
Section 331.1411 - Pledge and Agreement of State.
Section 331.1413 - Corporation Obligations as Negotiable Instruments Under Uniform Commercial Code.
Section 331.1414 - Notes and Corporation Obligations as Investment Securities.