Michigan Compiled Laws § 600.3505 Voluntary Dissolution Of Corporations; Dissolution; Receiver; Temporary Receiver.

600.3505 Voluntary dissolution of corporations; dissolution; receiver; temporary receiver.

Sec. 3505.

If it appears to the court that the corporation is insolvent or that dissolution thereof would be beneficial to the stockholders and not injurious to the public, the court may dissolve the corporation and appoint a receiver of its estate and effects. Pending the hearing, the court may appoint a temporary receiver and prescribe his powers and duties.

History: 1961, Act 236, Eff. Jan. 1, 1963

Section: 600.3501  600.3505  600.3510  600.3515  600.3520  600.3525    Next

Last modified: October 10, 2016