Section 207.442 - Sale proceeds insufficient; payment refusal; charter rights forfeited.
COLLECTION OF SPECIFIC TAXES (EXCERPT)
Act 226 of 1889
207.442 Sale proceeds insufficient; payment refusal; charter rights forfeited.
Sec. 2.
If the property so distrained cannot be sold for want of bidders, or if the property of the corporation is insufficient to pay the tax, the sheriff shall immediately return a statement of the same to the state treasurer, and if such corporation neglects or refuses to pay the tax within 30 days after such return by the sheriff, it shall be deemed a forfeiture of all its corporate or chartered rights and privileges.
History: 1889, Act 226, Imd. Eff. July 1, 1889 ;-- How. 1256b ;-- CL 1897, 4029 ;-- CL 1915, 4261 ;-- CL 1929, 3665 ;-- CL 1948, 207.442 ;-- Am. 2002, Act 348, Imd. Eff. May 23, 2002