Section 450.2042 - Certificate of authority; revocation; notice; certificate of revocation; effect.
BUSINESS CORPORATION ACT (EXCERPT)
Act 284 of 1972
450.2042 Certificate of authority; revocation; notice; certificate of revocation; effect.
Sec. 1042.
(1) The administrator shall revoke a certificate of authority of a foreign corporation only if he or she has given the foreign corporation not less than 90 days' notice that a default under section 1041 exists and that its certificate of authority will be revoked unless the default is cured within 90 days after the notice is mailed, and the corporation fails within 90 days to cure the default.
(2) The notice shall be sent by first class mail to the corporation at its registered office in this state.
(3) Upon revoking a certificate of authority, the administrator shall issue a certificate of revocation and mail a copy to the corporation at its registered office in this state.
(4) Issuing the certificate of revocation has the same force and effect as issuing a certificate of withdrawal under section 1031.
History: 1972, Act 284, Eff. Jan. 1, 1973 ;-- Am. 1974, Act 303, Imd. Eff. Oct. 21, 1974 ;-- Am. 1989, Act 121, Eff. Oct. 1, 1989 ;-- Am. 1993, Act 91, Eff. Oct. 1, 1993 ;-- Am. 1997, Act 118, Imd. Eff. Oct. 24, 1997