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2006 Michigan Compiled Laws - CHAPTER 4 (331.1401...331.1415)

MUNICIPAL HEALTH FACILITIES CORPORATIONS ACT (EXCERPT)
Act 230 of 1987
Chapter 4

DocumentDescription
Section 331.1401Board of trustees or subsidiary board; power to borrow money and issue notes; resolution; applicability of revised municipal finance act.
Section 331.1402Corporation or subsidiary corporation; additional powers; prohibited conduct.
Section 331.1403Corporation or subsidiary corporation; additional powers; refinancing or refunding indebtedness; redemption; limitation; determination of board of trustees or subsidiary conclusive; exception.
Section 331.1404Corporation obligations as general obligations of issuing corporation or subsidiary corporation; corporation obligations neither local governmental unit nor state debt.
Section 331.1405Provisions of resolution authorizing issuance of corporation obligations as part of contract.
Section 331.1406Corporation obligations generally.
Section 331.1407Refunding corporation obligations.
Section 331.1408Security instruments to continue in effect until principal and interest on corporation obligations paid in full; terms of security instrument; recital.
Section 331.1409Lien of pledge.
Section 331.1410Personal liability on notes or corporation obligations.
Section 331.1411Pledge and agreement of state.
Section 331.1412Corporation obligations; statutory provisions to which issuance of obligations subject; legality.
Section 331.1413Corporation obligations as negotiable instruments under uniform commercial code.
Section 331.1414Notes and corporation obligations as investment securities.
Section 331.1415State covenants with purchasers, subsequent holders, and transferees of notes and corporation obligations.

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