Michigan Laws 600.2021 – Foreign corporations; actions based on forbidden acts; exceptions
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(1) If a law of this state prohibits a corporation or an association of individuals from performing an act unless the act is expressly authorized by law, and the act is done by a foreign corporation, the foreign corporation shall not maintain an action based on that act, or upon any liability or obligation, express or implied, arising out of or made or entered into in consideration of that act.
(2) Subsection (1) does not apply to a foreign corporation subject to the business corporation act, 1972 PA 284, MCL 450.1101 to 450.2098, or the nonprofit corporation act, 1982 PA 162, MCL 450.2101 to 450.3192.
Terms Used In Michigan Laws 600.2021
- 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.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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