Michigan § 450.737 Feasibility study; informational meeting.

Michigan Statutes

§ 450.737 — Feasibility study; informational meeting.

Michigan § 450.737

Ch. 450CORPORATIONS

Act 152 of 1985THE EMPLOYEE-OWNED CORPORATION ACT (450.731-450.738)

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Bluebook

Mich. Comp. Laws § 450.737 (2026).

Text

THE EMPLOYEE-OWNED CORPORATION ACT (EXCERPT) Act 152 of 1985 450.737 Feasibility study; informational meeting. Sec.

7.If the department becomes aware pursuant to a request that a business establishment is closing or relocating operations, the department may conduct an initial study of the feasibility of the employees of the corporation establishing an employee-owned corporation to continue the operations of the affected establishment or to operate another business and may call an informational meeting of representatives of the local community, the corporation involved, representatives of any employee bargaining unit, and affected employees to explain the services available from the department relative to the formation of an employee-owned corporation.

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THE EMPLOYEE-OWNED CORPORATION ACT (EXCERPT) Act 152 of 1985 450.737 Feasibility study; informational meeting. Sec. 7. If the department becomes aware pursuant to a request that a business establishment is closing or relocating operations, the department may conduct an initial study of the feasibility of the employees of the corporation establishing an employee-owned corporation to continue the operations of the affected establishment or to operate another business and may call an informational meeting of representatives of the local community, the corporation involved, representatives of any employee bargaining unit, and affected employees to explain the services available from the department relative to the formation of an employee-owned corporation.