Michigan Laws 331.254 – Board of trustees; land holding powers
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Terms Used In Michigan Laws 331.254
- Bequest: Property gifted by will.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
It shall be competent for the board of trustees of said hospital to take, by gift, devise or bequest, and hold in perpetuity any land or other property in trust for any purpose not inconsistent with the objects and purposes of said hospital.