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Code · Michigan · Chapter 550 — General Insurance Laws

550.1218 Health care corporation; prohibited actions.

115 words·~1 min read·/mi/chapter-550/550-1218

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550.1218 Health care corporation; prohibited actions.
Sec. 218.
A health care corporation shall not do any of the following:
(a)Take any action to change its nonprofit status.
(b)Except as otherwise provided in section 220, dissolve, merge, consolidate, mutualize, or take any other action that results in a change in direct or indirect control of the health care corporation or sell, transfer, lease, exchange, option, or convey assets that results in a change in direct or indirect control of the health care corporation.
History: Add. 2002, Act 559 , Imd. Eff. Sept. 27, 2002 ;-- Am. 2013, Act 4 , Imd. Eff. Mar. 18, 2013
Popular Name: Blue Cross-Blue Shield
Popular Name: Act 350
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