Michigan Laws 331.621 – Transfer of clinics building and Detroit receiving hospital as serving public purpose; authorization; receipt of full value
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 331.621
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
It is hereby determined that the transfer of the clinics building owned by Wayne state university and of the Detroit receiving hospital to the Detroit medical center corporation, a private nonprofit Michigan corporation, or a subsidiary of that corporation serves a public purpose for all the citizens of the state of Michigan since the transfers shall enable the facilities to continue to be operated for the purposes described in section 3 and 4. Subject to the provisions of this act, such transfers are hereby authorized. It is also hereby determined that full value shall be considered to have been received in exchange for the facilities and the transfer of the facilities shall be considered to have been authorized by law, if the conditions described in section 2 are satisfied.