Michigan Compiled Laws 350-1980-6a Part 6a Health Endowment Fund Corporations (550.1651...550.1655)

• Section 550.1651 Definitions.
  As used in this part: (a) "Board" means the board of a health endowment fund corporation incorporated under this part. (b) "Executive director" means...
• Section 550.1652 Health Endowment Fund Corporation; Incorporation; Conflict Of Interest; Appointment Of Board Members; Vacancy; Terms; Quorum; Vote; Business Open To Public; Notice; Meeting In Closed Session; Minutes; Compensation.
  (1) A health endowment fund corporation shall not be incorporated in this state except under this part. (2) A board shall adopt a conflict...
• Section 550.1653 Charitable Purpose Nonprofit Corporation; Receipt And Administration Of Funds; Articles Of Incorporation; Grants; Conflict With Other Provisions Of Law; Social Mission Contributions; Fund As Private, Nonprofit Corporation.
  (1) A charitable purpose nonprofit corporation may be incorporated on a nonstock, directorship basis, under the nonprofit corporation act, 1982 PA 162, MCL 450.2101...
• Section 550.1654 Executive Director.
  (1) A board shall appoint an executive director to serve as the chief executive officer of the fund. The executive director shall serve at...
• Section 550.1655 Disbursement, Expenditure, And Investment Of Money By Fund; System Of Financial Accounting, Controls, Audits, And Reports; Appointment Of Audit Committee; Duties Of Executive Director; Requirement To Keep Accurate Accounting; Cooperation With Investigation.
  (1) Subject to this section, a fund may disburse money contributed to the fund each year, not including any interest, earnings, or unrealized gains...

Last modified: October 10, 2016