Michigan Laws 500.7024 – Powers of MEWA
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Every MEWA, unless otherwise provided, or inconsistent with this chapter, shall have power:
(a) To have succession, by its name, for the term stated in its trust agreement, which shall be in perpetuity unless otherwise specified.
Terms Used In Michigan Laws 500.7024
- Board: means the board of trustees of the multiple employer welfare arrangement security fund. See Michigan Laws 500.7001
- MEWA: means that term as defined in section 3 of the employee retirement income security act of 1974, Public Law 93-406, 88 Stat. See Michigan Laws 500.7001
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Personal property: All property that is not real property.
- seal: shall be construed to include any of the following:
(a) The impression of the seal on the paper alone. See Michigan Laws 8.3nstate: 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 United States: shall be construed to include the district and territories. See Michigan Laws 8.3o
(b) To sue and be sued, complain and defend, in any court of law or equity or to be a party to any proceedings before any board or commission or other public body of this state or any other state or government; suits at law may be maintained by the MEWA against any of its members for any cause relating to the business of the MEWA.
(c) To have a seal which may be altered at pleasure and to use the seal by causing it or a facsimile of the seal to be impressed or affixed or reproduced, or otherwise.
(d) To appoint such officers and agents as the business of the MEWA shall require and to allow them suitable compensation.
(e) To make, alter, amend, and repeal bylaws for the regulation and government of its affairs.
(f) To conduct its business in this state, other states, the District of Columbia, the territories and colonies of the United States and in foreign countries and the territories and colonies thereof and have 1 or more offices out of this state and to acquire, purchase, hold, mortgage, pledge, assign, transfer and convey real and personal property out of this state subject to the provisions of this chapter.