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.
Mich. Comp. Laws § 550.1218
Health care corporation; prohibited actions
Applied in 1 court decision — leading case General v. Blue Cross Blue Shield (2010)
Most recently applied in General v. Blue Cross Blue Shield (December 2010)
Add. 2002, Act 559, Imd
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.