(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.

Terms Used In Michigan Laws 390.1573

  • 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.
  • Director: means the director of the department of career development or his or her designee. See Michigan Laws 390.1572
  • Registered distance learning corporation: means a distance learning corporation incorporated under the nonprofit act and registered under this act. See Michigan Laws 390.1572
  • 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
  (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.
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