Michigan Compiled Laws
Act 327 of 1931 - Michigan General Corporation Statute (450.1 - 450.192)
Section 450.158 - Trustee Corporations; Hospital, Asylum, Charitable Institution; Gifts, Acceptance.

Sec. 158.
Same; hospital; asylum, or other charitable institution. Whenever there shall exist any hospital, asylum, home for the care of indigent, aged or infirm persons, or any other charitable institution in this state, the legal title to which and the land used in connection therewith has been conveyed to 1 or more persons in trust, for charitable purposes, and the care and management of which institution is entrusted to a board of control consisting of 5 or more persons, appointed from 1 or more charitable, religious or fraternal bodies, in pursuance of the provisions contained in the deed conveying the legal title of such institution and land to such trustees, such board of control may become incorporated as a trustee corporation and become subject to the provisions of this act.
Gifts. Such trustee corporation may receive gifts, bequests and devises of money and other personal property and real estate for the benefit of the hospital, asylum or home for the care of indigent, aged or infirm persons, or other charitable institution which it has in its charge, and shall have power to sell such real estate and personal property as shall be given to it, and invest the proceeds thereof in the same manner as is provided in this act for the investment of gifts and bequests of money to trustee corporations whenever, in the judgment of the proper officers or committee or committees of such corporation, it may be deemed beneficial to such institution.
History: 1931, Act 327, Eff. Sept. 18, 1931 ;-- CL 1948, 450.158 Compiler's Notes: The catchline following the act section number was incorporated as part of the section when the act was enacted.Former Law: See section 12 of Ch. I of Part IV of Act 84 of 1921, being CL 1929, § 10088; and section 13 of Ch. I of Part IV of Act 84 of 1929, being CL 1929, § 10089.

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 450 - Corporations

Act 327 of 1931 - Michigan General Corporation Statute (450.1 - 450.192)

Section 450.1-450.61 - Repealed. 1951, Act 239, Eff. Sept. 28, 1951;—1962, Act 174, Eff. Jan. 1, 1964;—1967, Act 67, Eff. Nov. 2, 1967;—1972, Act 284, Eff. Jan. 1, 1973.

Section 450.62-450.64 - Repealed. 1982, Act 162, Eff. Jan. 1, 1983.

Section 450.65-450.80 - Repealed. 1972, Act 284, Eff. Jan. 1, 1973.

Section 450.81 - Repealed. 1982, Act 162, Eff. Jan. 1, 1983.

Section 450.82-450.91a - Repealed. 1972, Act 284, Eff. Jan. 1, 1973.

Section 450.92 - Repealed. 1982, Act 162, Eff. Jan. 1, 1983.

Section 450.93-450.97 - Repealed. 1974, Act 140, Imd. Eff. June 5, 1974.

Section 450.98 - Applicability of Act to Corporations Limiting Dividends or Voting Rights, and Conducting Not More Than 50% of Business With Nonstockholders or Nonmembers; Classification of Corporations Organized Under MCL 450.98 to 450.109 as Profit...

Section 450.99 - Cooperative Plan; Definition; Allocation of Reserved Earnings; Cooperative Corporations; Use of Term “Cooperative,”“co-Op,” or Variation Thereof.

Section 450.100 - Cooperative Corporations; Shares of Stock, Contents.

Section 450.101 - Cooperative Corporations; Shareholders' Powers; Directors, Election, Term, Number; Voting.

Section 450.102 - Cooperative Corporations; Membership, Regulations.

Section 450.103 - Cooperative Corporations; Amendments to Articles.

Section 450.104 - Cooperative Corporations; Reserve Funds, Investment; Shareholders, Vote.

Section 450.105 - Cooperative Corporations; Purchase of Business; Payment, Methods.

Section 450.106 - Cooperative Corporations; Distribution of Dividends; Reserves; Distribution of Cooperative Dividends; Determining Annual Privilege Fee.

Section 450.107 - Cooperative Corporations; Surplus Earnings, Distribution; Failure, Penalty.

Section 450.108 - Cooperative Corporations; Dealing in Commodities; Contracts, Agreements.

Section 450.109 - Cooperative Corporations; Breach of Contract; Encouragement Prohibited; Penalty.

Section 450.117-450.132a - Repealed. 1982, Act 162, Eff. Jan. 1, 1983.

Section 450.133 - Incorporation of Fraternal or Secret Societies; Parent Lodge.

Section 450.134 - Parent Corporations; Articles of Incorporation.

Section 450.135 - Parent Corporations; Ritual, Rules; Subordinate Lodges, Chartering.

Section 450.136 - Parent Corporations; Supervision, Subordinate Lodge.

Section 450.137 - Parent Corporations; Management, Secretary.

Section 450.138 - Parent Corporations; Name, Regulations.

Section 450.139 - Parent Corporations; Powers as to Property.

Section 450.140 - Parent Corporations; Government, Representative Form; First Annual Meeting.

Section 450.141 - Parent Corporations; Annual Meeting, Powers.

Section 450.142 - Local Lodges; Purpose.

Section 450.143 - Local Lodges; Articles of Incorporation.

Section 450.144 - Local Lodges; Powers as to Property; Parent Corporation, Supervision.

Section 450.145 - Local Lodges; Officers, Representatives.

Section 450.146 - Parent or Local Lodges; Powers of Non-Profit Corporation.

Section 450.147 - Parent or Local Lodges; Relief Funds, Raising, Payment From Treasury.

Section 450.148 - Trustee Corporations; Definition.

Section 450.149 - Trustee Corporations; Trustees, Vesting of Property; Trust Instrument, Definition.

Section 450.150 - Trustee Corporations; Articles of Incorporation.

Section 450.151 - Trustee Corporations; Officers.

Section 450.152 - Trustee Corporations; Powers as to Property.

Section 450.153 - Trustee Corporations; Property and Funds, Use, Investments.

Section 450.154 - Trustee Corporations; Trustees, Vacancy, Filling.

Section 450.155 - Trustee Corporations; Circuit Courts, Petition; Jurisdiction of Court.

Section 450.156 - Trustee Corporations; Act Amendment of Trustee Agreement.

Section 450.157 - Trustee Corporation; Hospitals; Asylums; Trustee Instrument; Indenturing or Apprenticing Destitute or Foundling Children; Withdrawal.

Section 450.158 - Trustee Corporations; Hospital, Asylum, Charitable Institution; Gifts, Acceptance.

Section 450.159 - Church Trustee Corporations; Trustees, Election, Number; Certification of Election.

Section 450.159a - Church Trustee Corporations; Trustees, Increase, Decrease; Resolutions, Adoption; Meetings, Terms; Additional Trustee, Election.

Section 450.160 - Church Trustee Corporations; Trustees, Vacancy, Filling.

Section 450.161 - Church Trustee Corporations; Powers as to Property.

Section 450.162 - Church Trustee Corporations; Investment, Powers, Certificate.

Section 450.163-450.167 - Repealed. 1982, Act 162, Eff. Jan. 1, 1983.

Section 450.167a - Henry Ford Trade School; Dissolution; Cancellation of Franchise; Assets, Disposal, Sale; Debts, Payment; Retirement Program; Payment of Dissolution Charges; Certificate, Filing, Contents.

Section 450.168 - Repealed. 1982, Act 162, Eff. Jan. 1, 1983.

Section 450.169 - Corporations to Provide Student Aid.

Section 450.170 - Educational Corporations; Incorporation.

Section 450.171 - Educational Corporations; Classification; Religious College Not Included; Filing of Articles of Incorporation; Statement; Guaranteed Annual Income as Credit to Capital; Use of "College", "University", or "Junior College" as Name; Ex...

Section 450.172 - Educational Foundations; Colleges, Establishment.

Section 450.173 - Educational Foundations; Articles of Incorporation, Contents, Amendment.

Section 450.174 - Educational Foundations; Property, Acceptance; Government.

Section 450.175 - Educational Foundations; Board of Directors, Trustees; Powers.

Section 450.176 - Educational Corporations; Holders of Diplomas or Certificates; Privilege or Immunity.

Section 450.177 - Educational Foundations; Inspection by State Board of Education, Time; Annual Report, Contents.

Section 450.178 - Ecclesiastical Corporations; Incorporation; Purpose.

Section 450.179 - Ecclesiastical Corporations; Articles of Incorporation.

Section 450.180 - Ecclesiastical Corporations; Articles, Execution, Contents; Receivership; Unclaimed Property, State.

Section 450.181 - Ecclesiastical Corporations; By-Laws.

Section 450.182 - Ecclesiastical Corporations; Articles, Amendment Procedure.

Section 450.183 - Ecclesiastical Corporations; Powers as to Property.

Section 450.184 - Ecclesiastical Corporations; Gifts, Acceptance, Investment.

Section 450.184a - Organization and Operation of Religious College by Ecclesiastical Corporation.

Section 450.185 - Ecclesiastical Corporations; Powers of Church Unrestricted.

Section 450.186 - Ecclesiastical Corporations; Sunday School, Religious Society; Incorporation.

Section 450.186a - Public Building Corporations; Incorporation; Contracts With State Administrative Board, Legislature's Approval.

Section 450.186b - Public Building Corporations; Powers as to Property; State Contracts, Leases; Bonds; By-Laws.

Section 450.186c - Public Building Corporations; Non-Profit Provisions, Applicability; Administration of Property and Accumulation; Rent to State; Fees, Purpose.

Section 450.186d - Public Building Corporations; Trustees, Number, Terms, Compensation; Members, Term, Admission.

Section 450.186e - Public Building Corporations; Winding Up Affairs by Legislature; Property, Conservation, Disposition.

Section 450.187 - Repealed. 1965, Act 161, Imd. Eff. July 15, 1965.

Section 450.187a - Repealed. 1970, Act 66, Imd. Eff. July 10, 1970.

Section 450.187b - Repealed. 1972, Act 284, Eff. Jan. 1, 1973.

Section 450.188, 450.189 - Repealed. 1982, Act 162, Eff. Jan. 1, 1983.

Section 450.190 - Catchline Headings of Sections Not Part of Act.

Section 450.191 - Repeal of Acts and Parts of Acts; MCL 450.631 and 450.632 Inapplicable to Corporations Governed by This Act.

Section 450.192 - Saving Clause.