Michigan Compiled Laws
Act 47 of 1945 - Hospital Authority (331.1 - 331.11)
Section 331.8g - Bonds as Negotiable Instruments.

Sec. 8g.
Such bonds shall have all the qualities of a negotiable instrument by the law merchant and the uniform commercial code.
History: Add. 1973, Act 161, Imd. Eff. Dec. 14, 1973 Popular Name: Municipal Hospital Authority Act

Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 331 - Hospitals

Act 47 of 1945 - Hospital Authority (331.1 - 331.11)

Section 331.1 - Hospital Authority; Formation; Issuance and Purpose of Bonds; Enlargement of Powers; “Hospitals” and “Community Hospitals and Related Facilities” Defined.

Section 331.2 - Hospital Authority; Body Corporate; Powers; Entity Unable to Document Compliance; Validation, Ratification, and Confirmation of Actions or Proceedings.

Section 331.3 - Contents of Resolution Creating Hospital Authority; Subsequent Membership; Release From Membership; Prior Actions and Proceedings Validated.

Section 331.4 - Community Hospitals; Annual Tax; Reimbursement Payments Under Glenn Steil State Revenue Sharing Act of 1971; Additional Annual Tax for Capital Improvements; Election.

Section 331.5 - Hospital Board; Appointment, Qualifications, and Terms of Members; Temporary Officers; Resolutions Removing Members at Large; Duties of Secretary; Limitation on Procedure; First Meeting; Election of Officers; Executive Committee; Medi...

Section 331.6 - Hospital Board; Meetings; Conducting Business at Public Meeting; Notice of Meeting; Waiver of Notice; Quorum; Record of Meeting; Availability of Record and Other Writings to Public; System of Accounts; Audit; Treasurer's Bond; Bylaws,...

Section 331.7 - Balanced Budget; Preparation; Contents; Notice of Public Hearing; Adoption of Budget; Determining Respective Shares of Cities, Townships, and Villages; Assessed Valuations; Tax Levy; Certification of Amounts to Be Raised; Tax Limitati...

Section 331.8 - Bonds; Issuance; Purpose; Liability; Payment; Sale; Interest Rate; Bonds Subject to Revised Municipal Finance Act.

Section 331.8a - Borrowing Money and Issuing Notes; Purpose; Resolution; Maturity; Validation of Notes Previously Issued; Bonds and Notes Subject to Agency Financing Reporting Act.

Section 331.8b - Hospital Board; Bonds for Capital Improvements in Anticipation of Collection of Additional Tax Levy; Levy for Payment of Bonds and Interest.

Section 331.8c - Bonds; Authorization; Ordinance; Referendum Petition and Election; Notice; Resolution.

Section 331.8d - Bonds; Contents of Authorizing Resolution; Serial; Installments; Form; Execution; Payment of Principal and Interest; Registration.

Section 331.8e - Bonds; Creation of Lien in Authorizing Resolution; Nature and Effect of Lien; Default; Receiver.

Section 331.8f - Bonds; Public Sale; Notice; Publication; Private Sale.

Section 331.8g - Bonds as Negotiable Instruments.

Section 331.8h - Bonds; Deposit or Investment of Sale Proceeds; Use of Moneys Received From Sale; Cancellation of Bonds Acquired by Purchase; Payment of Capitalized Interest.

Section 331.8i - Free Service by Hospital Prohibited; Rates for Services.

Section 331.8j - Additional Bonds.

Section 331.8k - Bonds; Authorizing Reduction to Fix Beginning and Ending Dates of Operating Year.

Section 331.8m - Funds to Which Hospital Revenues Pledged in Authorizing Resolution.

Section 331.8n - Disposition of Moneys in Funds Established by Authorizing Resolution and of Moneys in Bond and Interest Redemption Fund.

Section 331.8p - Redemption of Bonds.

Section 331.8q - Repealed. 2002, Act 435, Imd. Eff. June 10, 2002.

Section 331.8r - Books of Record and Accounts; Availability of Certain Writings to Public; Statement; Misdemeanor; Proceedings to Compel Compliance; Annual Audit Report.

Section 331.8s - Authority and Rights of Hospital Authority; Prior Actions and Proceedings Validated.

Section 331.8t - Certificate of Need.

Section 331.9 - Powers of Hospital Board as to Property; Sale, Exchange, Lease, or Other Transfer of Hospital to Nonprofit Corporation; Sale, Lease, or Other Transfer of Real Property to County; Dissolution of Hospital Authority.

Section 331.10 - Violation of MCL 168.1 to 168.992 Applicable to Petitions; Penalties.

Section 331.11 - Declaration of Necessity.