§ 445.602 — Abandonment of business; application of act; benefit to company officer or agent or to predecessor company.

Michigan § 445.602

• Jurisdiction: Michigan
• Ch. 445: TRADE AND COMMERCE
• Act 144 of 1895: ABANDONMENT OF BUSINESS (445.601-445.606)

Text

ABANDONMENT OF BUSINESS (EXCERPT) Act 144 of 1895 445.602 Abandonment of business; application of act; benefit to company officer or agent or to predecessor company. Sec. 2. The provisions and penalties shall apply in all cases where the gift or grant was or shall be made by any city, town, company, person or persons, and they shall apply in all cases where the gift, grant, consideration or inducement, was made or paid to the corporation or company owning or operating such factory, work shop, machine shop, repair shop, office, agency, or establishment, and shall apply as well in all cases where such gift, grant, consideration or inducement was made or paid to any officer, agent, receiver or trustee of such corporation or company, or at any time in control of the property or business of the corporation or company; and the provisions and penalties of this act shall apply also if the corporation or company has succeeded to the rights, franchises, property or business of any corporation or company to which or the officers, agents, receivers or trustees of which company or corporation, or of its property, any such gift, grant, consideration or inducement was or shall have been made or paid.

Legislative History

1895, Act 144, Eff. Aug. 30, 1895 ;-- CL 1897, 5448 ;-- CL 1915, 7141 ;-- CL 1929, 9832 ;-- CL 1948, 445.602