Sec. 4521.
If a corporation has, by any misuser, nonuser, or surrender, forfeited its corporate rights, privileges and franchises, the judgment in an action for quo warranto shall oust and exclude such corporation from such corporate rights, privileges and franchises, and may dissolve the corporation. In addition to such judgment or in lieu thereof (except in case of such surrender), the court may impose a fine not exceeding $10,000.00 upon the corporation. The fine will not prevent further prosecution for any continuance or repetition of the conduct complained of.
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)
236-1961-45 - Chapter 45 Quo Warranto (600.4501...600.4545)
Section 600.4501 - Quo Warranto; Attorney General; Private Party.
Section 600.4505 - Usurpation of Office; Determination; Judgment for Relator; Proceedings.
Section 600.4511 - Usurpation of Office; Damages.
Section 600.4515 - Usurpation of Office; Ouster; Costs; Fine.
Section 600.4521 - Judgment Against Corporation; Dissolution; Fine.
Section 600.4525 - Judgment Against Corporation; Collection of Fine and Costs.
Section 600.4535 - Judgment; Filing of Record of Judgment; Notice; Publication.
Section 600.4541 - Forfeited Property; Recovery by Attorney General.