Michigan Administrative Code
Department - Attorney General
Consumer Protection and Charitable Trusts Division
Soliciting Agencies
Section R. 400.245 - Same; restrictions as to dividends; dissolution
Universal Citation: MI Admin Code R. 400.245
Current through Vol. 24-04, March 15, 2024
Rule 245. No organization, institution, association, or corporation, regardless of its statement of purpose, shall be considered as formed for a charitable purpose if dividends are distributed to members or stockholders or if, upon dissolution, the net assets are to be so distributed in whole or in part.
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