Section 600.4531 Judgment Against Corporation; Restraint; Receiver; Accounting; Distribution of Assets; Duty of Attorney General.

MI Comp L § 600.4531 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Sec. 4531.

Whenever any such judgment is rendered, any court having equity jurisdiction has the same powers to restrain the corporation against which it is rendered; to appoint a receiver of its property and effects; and to take an account and make distribution thereof among its creditors, as in the case of the voluntary dissolution of a corporation, and the attorney general shall, immediately after the rendering of any such judgment, institute proceedings for that purpose.

History: 1961, Act 236, Eff. Jan. 1, 1963