Sec. 1055.
In addition to any other liability imposed by law, a foreign corporation transacting business in this state without a certificate of authority shall forfeit to the state a penalty of not less than $100.00, nor more than $1,000.00, for each calendar month, not more than 5 years prior thereto, in which it has transacted business in this state without a certificate of authority. This penalty shall not exceed $10,000.00. The penalty shall be recovered with costs in an action prosecuted by the attorney general.
History: 1972, Act 284, Eff. Jan. 1, 1973
Structure Michigan Compiled Laws
Act 284 of 1972 - Business Corporation Act (450.1101 - 450.2099)
284-1972-10 - Chapter 10 Foreign Corporations (450.2001...450.2099)
Section 450.2001 - Foreign Corporation Transacting Business in State on Effective Date of Act.
Section 450.2002 - Foreign Corporation With Certificate of Authority.
Section 450.2003 - Foreign Corporation Without Certificate of Authority.
Section 450.2012 - Activities Not Constituting Transaction of Business; Applicability of Section.
Section 450.2014 - Applicability of MCL 450.2001 to 450.2055.
Section 450.2015 - Certificate of Authority to Transact Business; Application; Filing; Contents.
Section 450.2023 - Repealed. 1993, Act 91, Eff. Oct. 1, 1993.
Section 450.2031 - Application for Withdrawal From State.
Section 450.2032 - Issuance and Effect of Certificate of Withdrawal.
Section 450.2041 - Certificate of Authority; Grounds for Revocation.
Section 450.2042 - Certificate of Authority; Revocation; Notice; Certificate of Revocation; Effect.
Section 450.2055 - Penalty for Transacting Business Without Certificate of Authority.
Section 450.2060 - Filing Fees.
Section 450.2061 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.2063 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.2064 - “Regulated Investment Company” Defined.
Section 450.2099 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.