Sec. 170.
Any number of persons, not less than 3, may incorporate for the purpose of conducting a school, academy, seminary, college or other institution of learning where preparatory subjects or the arts, sciences, professions, special occupations and higher learning may be taught. Such corporations are hereinafter called educational corporations. Educational corporations may be organized for profit or by trustee corporations if so provided. Educational corporations organized for profit or as trustee corporations shall also comply with the provisions of this act relating to corporations for profit or trustee corporations. Educational corporations shall be governed by the provisions of this act relating to corporations generally except as specifically otherwise provided and shall be subject to the provisions of Act No. 148 of the Public Acts of 1943, as amended, being sections 395.101 to 395.103 of the Compiled Laws of 1948.
History: 1931, Act 327, Eff. Sept. 18, 1931 ;-- CL 1948, 450.170 ;-- Am. 1967, Act 157, Imd. Eff. June 30, 1967
Former Law: See section 4 of Ch. I of Part I of Act 84 of 1921, being CL 1929, ยง 9946.
Last modified: October 10, 2016