600.3630 Discovery of corporate assets; answer by officer, agent, or stockholder; answers and examinations of witnesses; use of evidence.

304 words·~1 min read·/mi/chapter-600/600-3630

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 3630.

(1)Upon any application to the court having jurisdiction, in any of the cases provided in this chapter, such court may compel such corporation to discover any stock, property, things in action or effects alleged to belong, or to have belonged to it, the transfer and disposition thereof, and the consideration, and all the circumstances of such disposition.

(2)Every officer, agent or stockholder of any corporation, against which proceedings are instituted, according to the provisions of this chapter, and every person to whom it is alleged that any transfer of any property or effects of such corporation has been made, or in whose possession or control any such property or effects are alleged to be, may be compelled, in the direction of the court, to answer a complaint filed to obtain any discovery specified in subsection (1), notwithstanding such answer may expose the corporation of which he is a member to a forfeiture of its corporate rights, or any of them.

(3)The answers of the officers and agents of any corporation are evidence against the corporation, in the same manner and to the same extent as if such answers had been given upon an examination of such officers or agents as witnesses in the cause, and such officers or agents may subsequently be examined as witnesses by either party, under the order of the court, but no such answer may be compelled, unless by special order of the court.

(4)Neither the answer of any such officer or agent, nor his testimony upon any such subsequent examination, may be used as evidence upon any indictment, or other criminal prosecution or proceeding against him.

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