450.2821 Action by attorney general for dissolution of corporation; grounds; other actions.
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450.2821 Action by attorney general for dissolution of corporation; grounds; other actions.
Sec. 821.
(1)The attorney general may bring an action in the circuit court for the county in which the principal place of business or registered office of a corporation is located or for Ingham county for dissolution of a corporation on the ground that the corporation has committed any of the following acts:
(a)Procured its organization through fraud.
(b)Repeatedly, willfully, and materially exceeded the authority conferred on it by law.
(c)Repeatedly, willfully, and materially conducted its affairs in an unlawful manner.
(2)The enumeration in this section of grounds for dissolution does not exclude any other statutory or common law action by the attorney general for dissolution of a corporation or revocation or forfeiture of its corporate franchises.
History: 1982, Act 162, Eff. Jan. 1, 1983 ;-- Am. 2014, Act 557 , Imd. Eff. Jan. 15, 2015