Michigan Compiled Laws
284-1972-8 - Chapter 8 Dissolution (450.1801...450.1864)
Section 450.1833 - Corporate Existence Continued for Purpose of Winding Up Affairs.

Sec. 833.
Except as a court may otherwise direct, a dissolved corporation shall continue its corporate existence but shall not carry on business except for the purpose of winding up its affairs by:
(a) Collecting its assets.
(b) Selling or otherwise transferring, with or without security, assets which are not to be distributed in kind to its shareholders.
(c) Paying its debts and other liabilities.
(d) Doing all other acts incident to liquidation of its business and affairs.
History: 1972, Act 284, Eff. Jan. 1, 1973

<< Previous
Next >>

Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 450 - Corporations

Act 284 of 1972 - Business Corporation Act (450.1101 - 450.2099)

284-1972-8 - Chapter 8 Dissolution (450.1801...450.1864)

Section 450.1801 - Methods of Dissolution.

Section 450.1803 - Conditions to Dissolution by Incorporators or Directors; Certificate of Dissolution.

Section 450.1804 - Dissolution by Action of Board and Shareholders; Certificate of Dissolution.

Section 450.1805 - Dissolution; Execution and Filing Certificate.

Section 450.1806 - Certificate of Dissolution; Filing; Time of Effectiveness; Conditions; Date Stamp as Evidence.

Section 450.1811 - Revocation of Dissolution Proceedings; Certificate of Revocations.

Section 450.1815 - Renewal of Corporate Existence; Manner.

Section 450.1817 - Effective Date of Revocation of Dissolution or Renewal of Corporate Existence; Accrued Penalty or Liability Unaffected; Adoption of Corporate Name; Rights of Corporation.

Section 450.1821 - Action by Attorney General for Dissolution; Grounds.

Section 450.1823 - Action by Director or Shareholder for Dissolution; Judgment; Proof.

Section 450.1825 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Section 450.1831 - Occurrences Dissolving Corporation.

Section 450.1833 - Corporate Existence Continued for Purpose of Winding Up Affairs.

Section 450.1834 - Functions of Dissolved Corporation and Its Officers, Directors, and Shareholders Continued.

Section 450.1841 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Section 450.1841a - Notice to Existing Claimants of Dissolution; Contents; Notice as Recognition of Validity of Claim; Conditions Barring Claim; “Existing Claim” Defined; Effective Date of Notice.

Section 450.1842 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Section 450.1842a - Publication of Notice of Dissolution; Requirements; Claimants Commencing Proceedings Within 1 Year of Notice.

Section 450.1843 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Section 450.1851 - Judicial Supervision of Corporate Affairs and Liquidation of Assets; Permitting Creditor to File Claim or Commence Proceeding.

Section 450.1855 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Section 450.1855a - Provision for Debts, Obligations, and Liabilities; Distribution of Remaining Assets.

Section 450.1861 - Implementation of Judicially Confirmed Plan of Reorganization.

Section 450.1862 - Powers of Corporation Under Judicially Confirmed Plan of Reorganization.

Section 450.1863 - Certificate or Document Filed or Recorded Pursuant to Plan of Reorganization.

Section 450.1864 - Additional Certificate or Document Filed to Conform to Plan of Reorganization as Finally Confirmed; Effect of Filing; Fees.