CAREER DEVELOPMENT AND DISTANCE LEARNING ACT (EXCERPT)
Act 36 of 2002
390.1576 Acquiring, holding, and disposing funds and property.
Sec. 6.
A registered distance learning corporation shall acquire, hold, and dispose of its funds and property only for the lawful purposes of the corporation and for the benefit of the public. A registered distance learning corporation shall conduct its activities, including acquiring, holding, and disposing of funds and property, in a manner within the scope of the purposes of the corporation as specifically set forth in its articles and consistent with this act.
History: 2002, Act 36, Imd. Eff. Mar. 7, 2002
Compiler's Notes: For transfer of powers and duties of the director of the department of career development to the department of labor and economic growth, see E.R.O. No. 2003-1, compiled at MCL 445.2011.
Rendered 8/15/2025 2:10 PM
Michigan Compiled Laws Complete Through PA 5 of 2025
Courtesy of legislature.mi.gov