Section 550.1218 - Health care corporation; prohibited actionsA 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.Amended by 2013, Act 4,s 2, eff. 3/18/2013.Add. 2002, Act 559, Imd. Eff. 9/27/2002.