Sec. 9.
(1) Prior to applying for registration as a Michigan early stage venture investment corporation under section 11, a nonprofit corporation shall submit its articles of incorporation and any amendments to those articles of incorporation to the attorney general for review and certification.
(2) The attorney general shall review the information submitted pursuant to subsection (1) and, if that information complies with the requirements of this act, and upon payment of a fee of $100.00, the attorney general shall issue a certificate of compliance to the Michigan early stage venture investment corporation not later than 60 days after the initial receipt of the information.
(3) Notwithstanding subsections (1) and (2), a Michigan early stage venture investment corporation that amends its articles of incorporation for the sole purpose of complying with section 7(c) is not required to submit that amendment to the attorney general for review or certification or to pay the fee otherwise required by subsection (2). The attorney general is not required to review or certify the amendment, and that amendment shall not affect any previous certification by the attorney general of the Michigan early stage venture investment corporation.
History: 2003, Act 296, Imd. Eff. Jan. 8, 2004 ;-- Am. 2015, Act 192, Imd. Eff. Nov. 16, 2015
Structure Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 296 of 2003 - Michigan Early Stage Venture Investment Act of 2003 (125.2231 - 125.2263)
Section 125.2231 - Short Title.
Section 125.2232 - Legislative Findings; Declaration.
Section 125.2233 - Definitions.
Section 125.2235 - Incorporation as Nonprofit Corporation.
Section 125.2237 - Articles of Incorporation; Contents.
Section 125.2241 - Filing With State Treasurer; Exception.
Section 125.2243 - Board of Directors.
Section 125.2247 - Agreements With Investors; Modification of Existing Agreement.
Section 125.2251 - Annual Financial Audit.
Section 125.2253 - Tax Voucher Certificates.
Section 125.2255 - Construction of Act.
Section 125.2257 - Annual Report.
Section 125.2259 - Actions Required.