Michigan Compiled Laws
236-1961-35 - Chapter 35 the Voluntary Dissolution and Winding Up of Corporations (600.3501...600.3525)
Section 600.3505 - Voluntary Dissolution of Corporations; Dissolution; Receiver; Temporary Receiver.

Sec. 3505.
If it appears to the court that the corporation is insolvent or that dissolution thereof would be beneficial to the stockholders and not injurious to the public, the court may dissolve the corporation and appoint a receiver of its estate and effects. Pending the hearing, the court may appoint a temporary receiver and prescribe his powers and duties.
History: 1961, Act 236, Eff. Jan. 1, 1963

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 600 - Revised Judicature Act of 1961

Act 236 of 1961 - Revised Judicature Act of 1961 (600.101 - 600.9948)

236-1961-35 - Chapter 35 the Voluntary Dissolution and Winding Up of Corporations (600.3501...600.3525)

Section 600.3501 - Voluntary Dissolution of Corporations; Actions Equitable in Nature; Stockholders and Creditors as Parties Defendant; Hearing.

Section 600.3505 - Voluntary Dissolution of Corporations; Dissolution; Receiver; Temporary Receiver.

Section 600.3510 - Receiver; Bond; Powers; Duties; Administration of Estate; Common Law Assignments.

Section 600.3515 - Sales, Transfers, and Levies Subsequent to Application for Dissolution; Validity.

Section 600.3520 - Repealed. 2002, Act 433, Imd. Eff. June 10, 2002.

Section 600.3525 - Chapter Inapplicable to Library; Lyceums; Religious Corporation; Academy; Select School; Burying Ground Corporations.