Michigan Laws 484.168 – Amendment or repeal of act
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Terms Used In Michigan Laws 484.168
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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.
The legislature may at any time alter, amend or repeal this act, and any such alteration or amendment shall act as an alteration or amendment of the corporate rights of all companies formed, created, organized or at any time doing business under its provisions; or they may annul or repeal any corporation formed under this act; but such alteration, amendment, annulling or repeal shall not, nor shall the dissolution of any such company, take away or impair any remedy given for or against any such corporation, its stockholders or officers for any right acquired or liability which shall have been previously incurred.