Sec. 215.
When a health care corporation, consistent with the purposes of the corporation prescribed in this act, is a shareholder in any other nonprofit corporation, its president and other officers or any of its directors may hold the office of director of the other nonprofit corporation the same as if they were individual shareholders in the other nonprofit corporation. The health care corporation, being a shareholder in the other nonprofit corporation, shall possess and exercise all the rights, powers, privileges, and liabilities of individual shareholders.
History: 1980, Act 350, Eff. Apr. 3, 1981 Popular Name: Blue Cross-Blue ShieldPopular Name: Act 350
Structure Michigan Compiled Laws
Chapter 550 - General Insurance Laws
Act 350 of 1980 - The Nonprofit Health Care Corporation Reform Act (550.1101 - 550.1704)
350-1980-2 - Part 2 (550.1201...550.1220)
Section 550.1201a - Formation of Health Care Corporation After January 1, 2014; Prohibition.
Section 550.1203 - Amendment or Restatement of Articles; Review; Approval.
Section 550.1204a - Unimpaired Surplus.
Section 550.1205 - Repealed. 2003, Act 59, Eff. July 23, 2003.
Section 550.1205a - Actuarial Practices and Accounting Principles; Financial Report.
Section 550.1208 - Action by Member; Complaint.
Section 550.1209 - Action by Member; Discontinuance, Compromise, or Settlement; Notice; Expense.
Section 550.1210 - Action by Member; Reasonable Expenses; Attorney's Fees.
Section 550.1212 - Action Without Notice or Lapse of Time Periods; Waiver; Attorney-in-Fact.
Section 550.1213 - Indemnification.
Section 550.1214 - Rate of Interest.
Section 550.1216, 550.1217 - Repealed. 2002, Act 559, Imd. Eff. Sept. 27, 2002.
Section 550.1218 - Health Care Corporation; Prohibited Actions.
Section 550.1219 - Provisions Superseded.
Section 550.1220 - Merger of Health Care Corporation With Nonprofit Mutual Disability Insurer.