Section 450.3055 - Foreign corporation conducting affairs in state without certificate of authority; penalty.
NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982
450.3055 Foreign corporation conducting affairs in state without certificate of authority; penalty.
Sec. 1055.
In addition to any other liability imposed by law, a foreign corporation conducting affairs in this state without a certificate of authority shall forfeit to the state a penalty of not less than $100.00 nor more than $1,000.00 for each calendar month, not more than 5 years prior thereto, in which it has conducted affairs in this state without a certificate of authority. This penalty shall not exceed $10,000.00. The penalty shall be recovered with costs in an action prosecuted by the attorney general.
History: 1982, Act 162, Eff. Jan. 1, 1983