Sec. 5010.
The corporate existence of any company incorporated under or subject to this code shall not exceed 30 years, unless a longer term is provided in the articles of incorporation. Any company hereafter incorporated under this code may incorporate for a period of any specific number of years, not less than 30, or multiples of 30, or in perpetuity, provided that the legislature may shorten such terms by future laws.
History: 1956, Act 218, Eff. Jan. 1, 1957 Popular Name: Act 218
Structure Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)
218-1956-50 - Chapter 50 Organization of Domestic Stock and Mutual Insurers (500.5000...500.5040)
Section 500.5000 - Scope of Chapter.
Section 500.5001 - Compliance With Chapter Required.
Section 500.5002 - Organization of Insurers; Definitions.
Section 500.5006 - Stock Insurers; Formation, Number of Incorporators Required.
Section 500.5010 - Duration of Corporate Existence.
Section 500.5012 - Corporate Name; Restrictions.
Section 500.5014 - Par Value of Stock; Limitations.
Section 500.5020 - Examination of Articles by Attorney General; Fee.
Section 500.5028 - Completion of Organization; Issuance of Stock Certificates; Mutual Corporation.
Section 500.5036 - Liability of Directors for Debts During Organization.