Michigan Laws 450.412 – Nonprofit corporations; revival of charter; extension of corporate term; validity of corporate acts
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Terms Used In Michigan Laws 450.412
- 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.
Upon the filing of such new articles and reports and the payments of such fees, the charter of the corporation shall be revived and shall be in full force and effect and the corporate term shall be extended from the date of expiration of its original term or the date of the last extension of corporate existence. The validity of all corporate acts during such period of default shall not be affected by such default, forfeiture or prior expiration. Compliance with this act shall be made before January 1, 1975.