(1) Three or more residents of this state may form a nonprofit corporation under the provisions of this act for the purpose of establishing, maintaining, and operating nonprofit dental care plans by which professional licensed dental services are provided at the expense of the corporation to persons who become subscribers to the plans.
  (2) The dental care plans may be a fee for service plan, administrative service contract, cost-plus arrangement, or a capitation plan.

Terms Used In Michigan Laws 550.351

  • Contract: A legal written agreement that becomes binding when signed.
  • 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
  (3) The corporation may establish, maintain, and operate dental care plans to furnish, deliver, indemnify, or finance professional dental services in other states, directly or through affiliate corporations.
  (4) Except as otherwise provided in this act, a corporation formed under this act is subject to the nonprofit corporation act, Act No. 162 of the Public Acts of 1982, being section 450.2101 to 450.3192 of the Michigan Compiled Laws.
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