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MI SB0624
Bill
AI Summary
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Requires nonprofit corporations and charitable organizations (except religious organizations) to notify the Michigan Attorney General before filing documents related to mergers, conversions, amendments, or dissolution with other state agencies or courts.
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Mandates the Attorney General receive notice within 60 days of automatic dissolution under the nonprofit corporation act and may require corporations to submit detailed accounting of assets and their disposition.
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Empowers the Attorney General to require charitable corporation dissolutions proceed through circuit court in Ingham County or the county where the organization's registered office is located, with the Attorney General as a necessary party to the proceedings.
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Prohibits the Department of Licensing and Regulatory Affairs from accepting dissolution, merger, conversion, or amendment filings from charitable corporations unless accompanied by a circuit court dissolution order, written Attorney General consent, or an affidavit showing the Attorney General failed to respond within 120 days.
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Establishes a 120-day review period for the Attorney General to grant consent or request additional information; allows entities to file an affidavit and proceed if the Attorney General fails to respond within this timeframe, with judicial review available under the Administrative Procedures Act.
Legislative Description
Businesses; charitable organizations; act relating to dissolution of domestic charitable purpose corporations; provide for general revisions. Amends title & secs. 1 & 2 of 1965 PA 169 (MCL 450.251 & 450.252) & adds secs. 1a & 2a. TIE BAR WITH: SB 0623'13
State agencies (existing), attorney general
Last Action
Assigned Pa 0558'14 With Immediate Effect
12/31/2014