390.1573 Registered distance learning corporation; laws applicable to nonprofit corporations; tax exemption; registration. Sec. 3. (1) A registered distance learning corporation is subject to the laws of this state applicable to nonprofit corporations, except as provided in this act. (2) A registered distance learning corporation is a charitable and benevolent institution, and its funds and property are exempt from taxation by this state or any political subdivision of this state. (3) A corporation shall not act as a registered distance learning corporation except as authorized by and pursuant to a registration issued by the director under 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.
Michigan Legal Code