Mich. Comp. Laws § 600.3505

Current through Public Act 166 of the 2024 Legislative Session
Section 600.3505 - Voluntary dissolution of corporations; dissolution; receiver; temporary receiver

If it appears to the court that the corporation is insolvent or that dissolution thereof would be beneficial to the stockholders and not injurious to the public, the court may dissolve the corporation and appoint a receiver of its estate and effects. Pending the hearing, the court may appoint a temporary receiver and prescribe his powers and duties.

MCL 600.3505

1961, Act 236, Eff. 1/1/1963.