Michigan Laws 458.109 – Certificate of dissolution; execution; acknowledgment; recording; powers, privileges, duties, trusts, and obligations of new organization
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Terms Used In Michigan Laws 458.109
- 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.
- Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
If such consent for dissolving such corporation for the purposes as above mentioned shall be so obtained, then a certificate containing an account of such dissolution shall be executed and acknowledged by the presiding officer and secretary of said meeting, and be recorded in the corporation and securities bureau of the department of commerce, and on compliance with the provisions of this act all the property, powers, privileges, duties, trusts, and obligations of every kind possessed by or pertaining to the original corporation thus dissolved shall pass to and be possessed by the new organization.