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2017 Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 THE INSURANCE CODE OF 1956 (500.100 - 500.8302)
218-1956-50 CHAPTER 50 ORGANIZATION OF DOMESTIC STOCK AND MUTUAL INSURERS (500.5000...500.5040)
Section 500.5010 Duration of corporate existence.
Universal Citation: MI Comp L § 500.5010 (2017)
500.5010 Duration of corporate existence.
Sec. 5010.
The corporate existence of any company incorporated under or subject to this code shall not exceed 30 years, unless a longer term is provided in the articles of incorporation. Any company hereafter incorporated under this code may incorporate for a period of any specific number of years, not less than 30, or multiples of 30, or in perpetuity, provided that the legislature may shorten such terms by future laws.
History: 1956, Act 218, Eff. Jan. 1, 1957
Popular Name: Act 218
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