Section 487.13704 - Service of process. - Michigan Statutes

BANKING CODE OF 1999 (EXCERPT)
Act 276 of 1999

487.13704 Service of process.

Sec. 3704.

(1) Whether it maintains a presence in this state, a consolidated organization or any of its successors in interest is subject to service of process in a proceeding in this state for enforcement of any obligation incurred in this state by any consolidating organization that is or was a party to a consolidation.

(2) An action or proceeding by or against any of the consolidating organizations in a court or any other public tribunal of this state may be prosecuted to judgment, as if consolidation had not taken place, or the consolidated bank or consolidated organization may be substituted in the place of any consolidating organization whose existence has ceased.

History: 1999, Act 276, Eff. Mar. 1, 2000