™Your Policy Risk Impact Agent
82 chapters · 471 sections in this title.
Mich. Comp. Laws § 123.901 Short title.
0.1K chars
Sec. 1. This act shall be known and may be cited as the "Michigan community foundation act".
Mich. Comp. Laws § 123.903 Definitions.
2.8K chars
Sec. 3. As used in this act: (a) "Community foundation" means an organization that meets all of the following requirements: (i) Has been in existence for at least 10 years. (ii) Has assets of at least $5,000,000.00. (iii) Qualifies for exemption from federal income taxation under…
Mich. Comp. Laws § 123.905 Receipt of property by municipality, school board; intermediate school board, or public library; sale; disposal; use of proceeds.
2.8K chars
Sec. 5. (1) A municipality may receive, own, and enjoy any gift of real, personal, or intangible personal property, made by grant, devise, or bequest, or in any other manner, for public parks, grounds, cemeteries, public buildings, or other public purposes, whether made directly …
Mich. Comp. Laws § 123.907 Transfer of property from municipality, school board, intermediate school board, or public library to community foundation.
3.7K chars
Sec. 7. (1) Subject to subsections (2), (3), and (7), a municipality, school board, intermediate school board, or public library may do the following: (a) Transfer any gift of intangible personal property received pursuant to section 5 or the proceeds of any gift received pursuan…