FOREIGN CORPORATION LAWSUIT - S.B. 738: COMMITTEE SUMMARY
Senate Bill 738 (as introduced 10-17-01)
Sponsor: Senator Bill Bullard, Jr.
Committee: Financial Services
Date Completed: 10-30-01
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 section would not apply to a foreign corporation, including a nonprofit, that failed to file for a certificate of authority to transact business in the State.
MCL 600.2021 - Legislative Analyst: C. Layman
FISCAL IMPACT
The bill would have no fiscal impact on State or local government.
- Fiscal Analyst: B. BowermanS0102\s738sa
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.