MichiganHealth corporations' notes would follow rules for transferable financial documents
If House Bill 6347 becomes law, municipal health facilities corporations' notes and obligations would follow Michigan's rules for transferable financial documents.
What it does
Notes and other obligations issued under the act would follow Michigan's rules for transferable financial documents, if House Bill 6347 becomes law, and would remain subject to any registration terms.
Argument forClear rules for these obligations could make it easier for corporations and lenders to handle notes issued under the act.
Argument againstTreating these obligations as transferable financial documents could make it harder for corporations to track who holds them.
More detail
The bill would treat notes and other obligations issued under the act as negotiable instruments under Michigan's commercial code. This covers notes and obligations issued under Michigan's Municipal Health Facilities Corporations Act. The obligations remain subject to any terms requiring registration. The bill would take effect only if House Bill 6347 becomes law.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Sep 29bill electronically reproduced 09/24/2026Latest
- Sep 24referred to Committee on FinanceMinor
- Sep 24read a first timeMinor
- Sep 24introduced by Representative Rep. Phil GreenIntroduced
Economy & Jobs