SENATE BILL No. 746

October 18, 2001, Introduced by Senator SHUGARS and referred to the Committee on

Health Policy.

A bill to amend 1972 PA 284, entitled

"Business corporation act,"

by amending section 213 (MCL 450.1213).

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

1 Sec. 213. (1) A corporation formed or existing under or

2 subject to this act other than a bank holding company registered

3 or to be registered as a bank holding company under the bank

4 holding company act of 1956, being 12 U.S.C. sections 1841 to

5 1850 CHAPTER 240, 70 STAT. 133, shall not assume a name which

6 THAT implies that it is a banking corporation, an insurance or

7 surety company, or a trust company, and the corporation shall not

8 use the word "bank", "industrial bank", "deposit", "surety",

9 "security", "trust", or "trust company" in its corporate name ,

10 or use a combination of the letters or words with other letters

11 or words in its corporate name to indicate or convey the idea of

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1 a bank or banking or industrial banking activity or security

2 unless from the other words constituting the name , it is clear

3 that the business conducted does not include the business of

4 banking.

5 (2) A NURSING HOME FORMED OR EXISTING UNDER OR SUBJECT TO

6 THIS ACT MAY USE THE TERM "HEALTH CENTER" OR "HEALTH CARE CENTER"

7 OR A TERM CONVEYING A MEANING SUBSTANTIALLY SIMILAR TO THOSE

8 TERMS, OR THE TERM "REHABILITATION CENTER", AS LONG AS THOSE

9 TERMS DO NOT CONFLICT WITH THE TERMS PROHIBITED BY SECTION 21712

10 OF THE PUBLIC HEALTH CODE, 1978 PA 368, MCL 333.21712.

11 Enacting section 1. This amendatory act does not take

12 effect unless Senate Bill No. 525 of the 91st Legislature is

13 enacted into law.

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