Michigan Laws 500.5002 – Organization of insurers; definitions
Current as of: 2023 | Check for updates
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Definitions, as used in this code:
(1) Except as otherwise indicated “corporation” means a corporation formed or existing under the laws of this state.
Terms Used In Michigan Laws 500.5002
- 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.
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(2) “Articles” means articles of incorporation, and all amendments thereto, and includes what has heretofore been referred to as articles of association and/or charters and amendments thereto of corporations governed by this code.
(3) “Incorporator” means a person, natural or corporate, who signs the articles.
(4) “Director” and “directors” shall be construed to be synonymous with “trustee” and “trustees” respectively. “Directors,” when used in relation to any power or duty requiring collective action, shall be construed to mean “board of directors.”
(5) “Registered office” means the place designated in the articles or bylaws as the office of the corporation in this state.