Sec. 3515.
All sales, assignments, transfers, mortgages and conveyances of any part of the assets of such corporation made after the filing of such application for dissolution, in payment of or as security for any existing or prior debt, and all judgments confessed by such corporation after that time, and all subsequent levies or garnishments are absolutely void as against the receiver who may be thereafter appointed.
History: 1961, Act 236, Eff. Jan. 1, 1963
Structure Michigan Compiled Laws
Chapter 600 - Revised Judicature Act of 1961
Act 236 of 1961 - Revised Judicature Act of 1961 (600.101 - 600.9948)
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Section 600.3520 - Repealed. 2002, Act 433, Imd.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.