Section 450.2731 - Merger or consolidation of foreign and domestic corporations; compliance with laws of jurisdiction; applicability of act to surviving or new corporation governed by laws of other ju - Michigan Statutes

NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982

450.2731 Merger or consolidation of foreign and domestic corporations; compliance with laws of jurisdiction; applicability of act to surviving or new corporation governed by laws of other jurisdiction; liability of corporation; service of process.

Sec. 731.

(1) One or more foreign corporations and 1 or more domestic corporations may be merged or consolidated as provided in this act, if the merger or consolidation is permitted by the laws of the jurisdiction where each foreign corporation is organized.

(2) A domestic corporation shall comply with this act with respect to the merger or consolidation of domestic corporations and a foreign corporation shall comply with the laws of the jurisdiction where it is organized.

(3) If the surviving or new corporation is to be governed by the laws of a jurisdiction other than this state, it shall comply with the provisions of this act with respect to foreign corporations if it is to conduct affairs in this state. The corporation is liable, and is subject to service of process of a proceeding in this state, for the enforcement of an obligation of a domestic corporation which is a party to the merger or consolidation.

History: 1982, Act 162, Eff. Jan. 1, 1983