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Terms Used In Michigan Laws 125.1475

  • Authority: means the Michigan state housing development authority created in this act. See Michigan Laws 125.1411
  • Consumer housing cooperative: means a nonprofit corporation incorporated pursuant to the corporation laws of this state and chapter 5. See Michigan Laws 125.1411
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
     The department of the treasury, corporation division, shall not file the articles of incorporation of the consumer housing cooperative unless the consent or approval of the authority is attached or affixed thereto.