Michigan Compiled Laws
Act 327 of 1931 - Michigan General Corporation Statute (450.1 - 450.192)
Section 450.172 - Educational Foundations; Colleges, Establishment.

Sec. 172.
(a) Educational corporations of class (w) as defined in section 171 of this act shall have authority to establish and conduct general colleges for furnishing higher learning and to confer such degrees and honors as shall be approved by the state board of education prior to the filing of articles of incorporation; and the term "college" as herein used shall be construed to include any college, university or other institution where the arts, sciences, professions and higher learning are taught and degrees and honors therein conferred. Such colleges may also include preparatory schools as commonly understood;
(b) Educational corporations of class (x), as defined in section 171, shall have authority to establish and conduct junior colleges, seminaries, academies or preparatory schools, as determined and approved by the state board of education, but not general colleges or universities as defined in subsection (a) hereof;
(c) Educational corporations of class (z) as defined in said section 171 shall embrace such schools, academies, or colleges as have been heretofore founded under Act 135, Public Acts 1899, known thereunder as "Ursuline academies"; those founded under Act 121, Public Acts 1915, and known thereunder as "ecclesiastical seminaries"; those founded under Act 28, Public Acts 1901, and known thereunder as "Evangelical Lutheran deaf mute institutions"; those founded under Act 135, Public Acts 1867, known as "industrial and charitable schools"; those organized under paragraph (c), subdivision 1, chapter 2, part 4, of Act 84, Public Acts 1921, and such other schools, colleges and institutions of like character and purpose as may be formed under any law of this state for educational purposes shall have all the rights, powers, privileges and immunities enjoyed under its act of incorporation and without regard to the classification made in this act, and upon complying with the provisions hereof shall have such additional rights, powers, privileges and immunities as are conferred hereunder according to the classifications prescribed in this act: Provided further, That any corporation heretofore formed under Act 359, Public Acts 1913, and known thereunder as "kindergarten institutions" shall hereafter be classified under class (x) of sections 171 and 172 of this act: Provided further, That any corporation of class (z) hereafter organized under this act may enjoy the privileges provided under classes (w), (x) and (y) of section 171, on condition that it satisfies the requirements set up for corporations of these respective classes.
(d) Educational corporations of class (y) as defined in section 171 shall have authority to establish and conduct colleges or universities of a graduate rank with programs of studies of 5 years or more.
History: 1931, Act 327, Eff. Sept. 18, 1931 ;-- Am. 1939, Act 162, Eff. Sept. 29, 1939 ;-- Am. 1943, Act 160, Imd. Eff. Apr. 17, 1943 ;-- CL 1948, 450.172 ;-- Am. 1958, Act 147, Eff. Sept. 13, 1958 Compiler's Notes: Act 135 of 1899, Act 121 of 1915, Act 28 of 1901, Act 135 of 1867, and Act 359 of 1913, referred to in this section, were repealed by § 10134 of the Compiled Laws of 1929. Act 84 of 1921, also referred to in this section, was repealed by Act 327 of 1931.For transfer of certain powers and duties vested in the department of career development or its director, relating to powers and duties of state board of education or superintendent of public instruction to the department of labor and economic growth, see E.R.O. No. 2003-1, compiled at MCL 445.2011.Former Law: See section 3 of Ch. II of Part IV of Act 84 of 1921, as amended by Act 267 of 1929, being CL 1929, § 10103.

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.