390.1573 Registered distance learning corporation; laws applicable to nonprofit corporations; tax exemption; registration.
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390.1573 Registered distance learning corporation; laws applicable to nonprofit corporations; tax exemption; registration.
Sec. 3.
(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.
(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.
History: 2002, Act 36 , Imd. Eff. Mar. 7, 2002
Compiler's Notes: For transfer of powers and duties of the director of the department of career development to the department of labor and economic growth, see E.R.O. No. 2003-1, compiled at MCL 445.2011.