450.1569 “Corporation” defined for purposes of MCL 450.1561 to 450.1567; "business organization" defined.
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450.1569 “Corporation” defined for purposes of MCL 450.1561 to 450.1567; "business organization" defined.
Sec. 569.
(1)For purposes of sections 561 to 567, "corporation" includes all constituent corporations absorbed in a consolidation or merger, any corporation converted into another business organization, and the resulting or surviving corporation or other business organization, so that a person that is or was a director, officer, employee, or agent of the constituent corporation or is or was serving at the request of the constituent corporation as a director, officer, partner, trustee, employee, or agent of another foreign or domestic corporation, partnership, limited liability company, joint venture, trust, or other business organization in the same position under this section with respect to the resulting or surviving corporation or other business organization as if that person had served the resulting or surviving corporation or other business organization in the same capacity.
(2)As used in this section, "business organization" means that term as defined in section 736(1).
History: 1972, Act 284, Eff. Jan. 1, 1973 ;-- Am. 1987, Act 1, Eff. Mar. 1, 1987 ;-- Am. 2012, Act 569 , Imd. Eff. Jan. 2, 2013