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MI SB0625
Bill
AI Summary
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Amends the Michigan Limited Liability Company Act (1993 PA 23) to modify the definition of "corporation" in Section 102.
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Expands the definition of "domestic corporation" to include corporations formed under or subject to the Nonprofit Corporation Act (1984 PA 162, MCL 450.2101 to 450.3192).
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Changes are incorporated into the definitions section that controls interpretation of the entire limited liability company act.
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Bill contains a tie-bar provision and takes effect only if Senate Bill No. 623 is enacted into law.
Legislative Description
Businesses; nonprofit corporations; definition of corporation in Michigan limited liability company act; include nonprofit corporations. Amends sec. 102 of 1993 PA 23 (MCL 450.4102). TIE BAR WITH: SB 0623'13
Businesses, nonprofit corporations
Last Action
Referred To Committee On Economic Development
10/16/2013