2006 Michigan Compiled Laws - Mich. Comp. Laws § 491.1126 Foreign association; compliance with act; void contracts; violation or noncompliance; amount of civil fine; recovery and disposition of fine.
|
Act 307 of 1980 491.1126 Foreign association; compliance with act; void contracts; violation or noncompliance; amount of civil fine; recovery and disposition of fine. Sec. 1126. A foreign association shall not be permitted to transact business in this state unless this act is fully complied with. Contracts made by a foreign association while in default are void. A foreign association which violates or fails to comply with this act is subject to a civil fine of not less than $100.00, nor more than $1,000.00, to be recovered by an action brought in the name of the people of this state in a court of competent jurisdiction. A fine collected under this section shall be paid into the general fund.
|
Disclaimer: These codes may not be the most recent version. Michigan may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
