Bill Text: MI SB0984 | 2015-2016 | 98th Legislature | Introduced
Bill Title: Businesses; nonprofit corporations; nonprofit corporation act; revise reference to uniform fraudulent transfer act to reflect renaming of act. Amends sec. 122 of 1982 PA 162 (MCL 450.2122).
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2016-12-30 - Assigned Pa 0554'16 [SB0984 Detail]
Download: Michigan-2015-SB0984-Introduced.html
SENATE BILL No. 984
May 24, 2016, Introduced by Senator SCHUITMAKER and referred to the Committee on Judiciary.
A bill to amend 1982 PA 162, entitled
"Nonprofit corporation act,"
by amending section 122 (MCL 450.2122), as amended by 2014 PA 557.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 122. (1) A reference in any statute of this state to
parts of any act that are repealed by this act is considered to be
a reference to this act, unless the context requires otherwise.
(2) The following statutes do not apply to a domestic
corporation:
(a) 1846 RS 55, MCL 450.504 to 450.525.
(b) 1955 PA 156, MCL 450.701 to 450.704.
(3)
The uniform fraudulent transfer voidable
transactions act,
1998
PA 434, MCL 566.31 to 566.43, 566.45,
does not apply to
distributions permitted under this act.
Enacting section 1. This amendatory act takes effect 90 days
after the date it is enacted into law.
Enacting section 2. This amendatory act does not take effect
unless Senate Bill No. 982
of the 98th Legislature is enacted into law.
