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Code · Michigan · Chapter 500 — Insurance Code of 1956

500.5010 Duration of corporate existence.

88 words·~1 min read·/mi/chapter-500/500-5010

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500.5010 Duration of corporate existence.
Sec. 5010.
The corporate existence of any company incorporated under or subject to this code shall not exceed 30 years, unless a longer term is provided in the articles of incorporation. Any company hereafter incorporated under this code may incorporate for a period of any specific number of years, not less than 30, or multiples of 30, or in perpetuity, provided that the legislature may shorten such terms by future laws.
History: 1956, Act 218, Eff. Jan. 1, 1957
Popular Name: Act 218
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