Sec. 6.
A registered distance learning corporation shall acquire, hold, and dispose of its funds and property only for the lawful purposes of the corporation and for the benefit of the public. A registered distance learning corporation shall conduct its activities, including acquiring, holding, and disposing of funds and property, in a manner within the scope of the purposes of the corporation as specifically set forth in its articles and consistent with this act.
History: 2002, Act 36, Imd. Eff. Mar. 7, 2002 Compiler's Notes: For transfer of powers and duties of the director of the department of career development to the department of labor and economic growth, see E.R.O. No. 2003-1, compiled at MCL 445.2011.
Structure Michigan Compiled Laws
Chapter 390 - Universities and Colleges
Act 36 of 2002 - Career Development and Distance Learning Act (390.1571 - 390.1579)
Section 390.1571 - Short Title.
Section 390.1572 - Definitions.
Section 390.1574 - Articles of Incorporation.
Section 390.1575 - Registration; Requirements.
Section 390.1576 - Acquiring, Holding, and Disposing Funds and Property.
Section 390.1577 - Registered Distance Learning Corporation; Powers.