Michigan Laws 450.3032 – Issuance of certificate of withdrawal to foreign corporation; conditions; effect
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Terms Used In Michigan Laws 450.3032
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Service of process: The service of writs or summonses to the appropriate party.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
If a foreign corporation files an application for withdrawal and pays the filing fees prescribed by law, the administrator shall issue to the foreign corporation a certificate of withdrawal, and both of the following shall occur:
(a) The authority of the foreign corporation to conduct affairs in this state is terminated.
(b) The authority of its resident agent in this state to accept service of process against the foreign corporation is revoked.