Section 450.3042 - Revocation of certificate of authority of foreign corporation to conduct affairs in state; notice of default under MCL 450.3031; certificate of revocation.
NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982
450.3042 Revocation of certificate of authority of foreign corporation to conduct affairs in state; notice of default under MCL 450.3031; certificate of revocation.
Sec. 1042.
(1) The administrator shall revoke a certificate of authority of a foreign corporation only when the administrator has given the corporation not less than 90 days' notice that a default under section 922 exists and that its certificate of authority will be revoked unless the default is cured within 90 days after mailing of the notice, and the corporation fails before revocation to cure the default.
(2) The notice shall be sent by first class mail to the corporation at its registered office in this state and at its main business or headquarters office as these offices are on record in the office of the administrator.
(3) Upon revoking such a certificate of authority, the administrator shall issue a certificate of revocation and mail a copy to the corporation at each of the addresses designated in subsection (2).
(4) The issuance of the certificate of revocation has the same force and effect as issuance of a certificate of withdrawal under section 1031.
History: 1982, Act 162, Eff. Jan. 1, 1983