2022 Michigan Compiled Laws
Chapter 450 - Corporations
Act 327 of 1931 - Michigan General Corporation Statute (450.1 - 450.192)
Section 450.157 - Trustee Corporation; Hospitals; Asylums; Trustee Instrument; Indenturing or Apprenticing Destitute or Foundling Children; Withdrawal.
Sec. 157.
(1) In all cases where lands, or any other property, amounting in value to $5,000.00 or more, have been or are given, granted, devised, or bequeathed to 3 or more trustees for the purpose of founding or endowing a hospital or other charitable asylum for the care or relief of indigent or other sick or infirm or aged persons, or the care of minor orphans or children and youth with special health care needs or for the care and protection of unfortunate women, or any number of those purposes, the trustees may incorporate under this act as a trustee corporation. Unless restricted by the trust instrument, the trustees may unite in that incorporation with other persons contributing to the maintenance of the hospital or asylum, and all of those other persons shall become members of the corporation upon making the contribution as may be fixed and determined in the articles or by-laws of the corporation. However, any 3 or more persons may incorporate for any charitable purpose described in this subsection as a trustee corporation, where the hospital, home, asylum, or other institution to be founded by the corporation is to be constructed, equipped, and maintained principally by donations not made under any trust deed or other instrument in writing declaring the uses and purposes to which the property shall be devoted, and that corporation shall have authority to fix and prescribe the terms and conditions of membership in the corporation.
(2) The trustees of a trustee corporation described in subsection (1), or a majority of them, are hereby authorized and empowered to indenture or apprentice to responsible persons, any destitute or foundling children who now or later become under the charge or care of that corporation, until those children shall respectively become of lawful age, and to make that indenture in each case as binding and effective in all respects as if the trustees were the lawful parents or guardians of those children. However, the trustees shall have power to withdraw a child from any person to which he or she is indentured, when in their opinion the interests of the child require it.
History: 1931, Act 327, Eff. Sept. 18, 1931 ;-- CL 1948, 450.157 ;-- Am. 2015, Act 89, Imd. Eff. June 25, 2015
Compiler's Notes: The catchline following the act section number was incorporated as part of the section when the act was enacted.
Former Law: See section 10 of Ch. I of Part IV of Act 84 of 1921, being CL 1929, § 10086; and section 11 of Ch. I of Part IV of Act 84 of 1921, being CL 1929, § 10087.
