FOREIGN CORPORATION LAWSUIT - S.B. 738: FLOOR ANALYSIS
Senate Bill 738 (Substitute S-1 as reported by the Committee of the Whole)
Sponsor: Senator Bill Bullard, Jr.
Committee: Financial Services
CONTENT
The bill would amend the Revised Judicature Act to make an exception to the prohibition under which a foreign corporation may not file a lawsuit based on an act the corporation is forbidden to do by State law. Under the bill, this restriction would not apply to a foreign corporation subject to the Business Corporation Act or the Nonprofit Corporation Act.
MCL 600.2021 - Legislative Analyst: C. Layman
FISCAL IMPACT
The bill would have no fiscal impact on State or local government.
Date Completed: 11-7-01 - Fiscal Analyst: B. Bowerman
floor\sb738 - Analysis available @ http://www.michiganlegislature.org
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.