Michigan Compiled Laws § 500.8146 Application For Discharge.

500.8146 Application for discharge.

Sec. 8146.

(1) If all assets justifying the expense of collection and distribution have been collected and distributed under this chapter, the liquidator shall apply to the court for discharge. The court may grant the discharge and make any other orders, including an order to transfer any remaining funds that are uneconomic to distribute, as may be considered appropriate.

(2) Any other person may apply to the court at any time for an order under subsection (1). If the application is denied, the applicant shall pay the costs and expenses of the liquidator in resisting the application, including a reasonable attorney's fee.

History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990
Popular Name: Act 218

Section: Previous  500.8140  500.8141  500.8141a  500.8142  500.8143  500.8144  500.8145  500.8146  500.8147  500.8148  500.8149  500.8150  500.8151  500.8152  500.8153  Next

Last modified: October 10, 2016