Section 450.1821 - Action by attorney general for dissolution; grounds.
BUSINESS CORPORATION ACT (EXCERPT)
Act 284 of 1972
450.1821 Action by attorney general for dissolution; grounds.
Sec. 821.
(1) The attorney general may bring an action in the circuit court of the county in which the principal place of business or registered office of the corporation is located for dissolution of a corporation upon the ground that the corporation has committed any of the following acts:
(a) Procured its organization through fraud.
(b) Repeatedly and willfully exceeded the authority conferred upon it by law.
(c) Repeatedly and willfully conducted its business in an unlawful manner.
(2) The enumeration in this section of grounds for dissolution does not exclude any other statutory or common law action by the attorney general for dissolution of a corporation or revocation or forfeiture of its corporate franchises.
History: 1972, Act 284, Eff. Jan. 1, 1973 ;-- Am. 1989, Act 121, Eff. Oct. 1, 1989