Mich. Admin. Code R. 400.245
Current through Vol. 24-19, November 1, 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.
Mich. Admin. Code R. 400.245