Michigan Laws 450.702 – Corporation director, manager, trustee or officer; resident agent; service of process, copy forwarded
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Terms Used In Michigan Laws 450.702
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
- Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
- Summons: Another word for subpoena used by the criminal justice system.
- Trustee: A person or institution holding and administering property in trust.
Any such director, manager, trustee or other officer may be served with process in such actions while he holds office as such and after he has ceased to be such a director, manager, trustee or other officer, as long as such actions are not barred by the statute of limitations, by serving the resident agent of such corporation with 2 copies of the summons and pleadings. Such resident agent shall forthwith forward 1 copy of such summons and pleadings to the director, manager, trustee or other officer so served, by registered mail, directed to such director, manager, trustee or other officer at his last known address.