2010 Michigan Compiled Laws
Chapter 450 - CORPORATIONS
Act 152 of 1985 - THE EMPLOYEE-OWNED CORPORATION ACT (450.731 - 450.738)
Section 450.734 - Powers of department generally.
THE EMPLOYEE-OWNED CORPORATION ACT (EXCERPT)Act 152 of 1985
450.734 Powers of department generally.
Sec. 4.
The department may do all of the following:
(a) Develop, collect, and disseminate information useful to persons and organizations throughout the state in undertaking or promoting the establishment and successful operation of employee-owned corporations.
(b) Evaluate the feasibility and economic viability of a proposed employee-owned corporation.
(c) Provide technical assistance and counseling services to persons who seek to form an employee-owned corporation.
(d) Provide assistance, counseling, and training in the operation of an employee-owned corporation.
(e) Assist persons in obtaining financing for the purchase and operation of an employee-owned corporation.
(f) Promote and coordinate the efforts of local, state, federal, and private agencies to assist in the formation or operation of an employee-owned corporation.
(g) Recommend appropriate legislative or executive action to enhance opportunities for employee-owned corporations in this state.
History: 1985, Act 152, Eff. Jan. 10, 1986
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