Sec. 706.
(1) A domestic corporation that has not commenced business, has not issued any shares, and has not elected a board may merge with any domestic or foreign corporation by unanimous consent of its incorporators.
(2) In order to effect the merger, the majority of incorporators shall execute a certificate of merger in accordance with section 707.
(3) The other domestic or foreign corporations participating in the merger shall comply with the provisions of this act dealing with mergers that are applicable to them.
History: Add. 1982, Act 407, Eff. Jan. 1, 1983 ;-- Am. 1989, Act 121, Eff. Oct. 1, 1989 ;-- Am. 1997, Act 118, Imd. Eff. Oct. 24, 1997
Structure Michigan Compiled Laws
Act 284 of 1972 - Business Corporation Act (450.1101 - 450.2099)
284-1972-7 - Chapter 7 Corporate Combinations and Dispositions (450.1701...450.1774)
Section 450.1701 - Merger of Domestic Corporations; Adoption and Contents of Plan of Merger.
Section 450.1702 - Plan of Share Exchange; Approval; Contents; Power of Corporation Not Limited.
Section 450.1703 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1703a - Plan of Merger or Share Exchange; Approval; Definitions.
Section 450.1704 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1707 - Certificate of Merger or Share Exchange.
Section 450.1712 - Merger of Parent and Subsidiary Corporations; Certificate of Merger.
Section 450.1713 - Merger of Parent and Subsidiary Corporations; Approval of Shareholders.
Section 450.1721-450.1723 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1724 - Merger; Applicable Provisions; Share Exchange.
Section 450.1731-450.1734 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1736 - Merger of Domestic Corporation With Business Organization.
Section 450.1741 - Abandonment of Merger or Share Exchange.
Section 450.1746 - Conversion of Business Organization Into Domestic Corporation; Requirements.
Section 450.1751 - Disposition of Corporate Property and Assets; Approval by Shareholders.
Section 450.1754 - Rights of Shareholders.
Section 450.1761 - Definitions.
Section 450.1762 - Right of Shareholder to Dissent and Obtain Payment for Shares.
Section 450.1764 - Corporate Action Creating Dissenters' Rights; Vote of Shareholders; Notice.
Section 450.1765 - Notice of Intent to Demand Payment for Shares.
Section 450.1766 - Dissenters' Notice; Delivery to Shareholders; Contents.
Section 450.1768 - Restriction on Transfer of Shares Without Certificates; Retention of Rights.
Section 450.1768a - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1769 - Payment by Corporation to Dissenter; Accompanying Documents.