Sec. 504.
All property of any corporation or nonprofit subsidiary corporation and its income and operation is exempt from all taxation by the state or by any taxing unit therein.
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)
230-1987-5 - Chapter 5 (331.1501...331.1507)
Section 331.1501 - Financial Reports and Annual Audits.
Section 331.1502 - Indemnification of Certain Persons.
Section 331.1503 - Dissolution of Corporation or Subsidiary Corporation.