331.1213 Corporation and subsidiary corporation as body corporate; power to sue and be sued; official seal; liability or debt.
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/mi/chapter-331/331-1213A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
331.1213 Corporation and subsidiary corporation as body corporate; power to sue and be sued; official seal; liability or debt.
Sec. 213.
Each corporation and subsidiary corporation organized or existing under this act shall be a body corporate with power to sue and be sued and to adopt an official seal and alter it at its discretion. A debt, claim, liability, corporation obligation, note, bond, or other obligation incurred by a corporation or a subsidiary corporation after the effective date of this act shall not be a liability or debt of or enforceable against the county, except as specifically otherwise provided by written agreement of the county approved by its board of commissioners.
A debt, claim, liability, corporation obligation, note, bond, or other obligation incurred by a subsidiary corporation shall not be a liability or debt of or enforceable against its parent corporation or another subsidiary corporation nor shall any debt, claim, liability, corporation obligation, note, bond, or other obligation incurred by a corporation be a liability or debt of or enforceable against its subsidiaries, except as specifically otherwise provided in writing duly authorized by the corporation or subsidiary corporation charged.
History: 1987, Act 230, Eff. Feb. 27, 1988