SENATE BILL No. 738

October 17, 2001, Introduced by Senator BULLARD and referred to the Committee on

Financial Services.

A bill to amend 1961 PA 236, entitled

"Revised judicature act of 1961,"

by amending section 2021 (MCL 600.2021).

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

1 Sec. 2021. (1) When, by the laws of this state, any act is

2 forbidden to be done by any IF A LAW OF THIS STATE PROHIBITS A

3 corporation , or by any OR AN association of individuals ,

4 without express authority FROM PERFORMING AN ACT UNLESS THE ACT

5 IS EXPRESSLY AUTHORIZED by law, and such act was THE ACT IS

6 done by a foreign corporation, the foreign corporation shall not

7 maintain any AN action founded upon such BASED ON THAT act,

8 or upon any liability or obligation, express or implied, arising

9 out of , or made or entered into in consideration of such

10 THAT act.

05709'01 DAM

2

1 (2) SUBSECTION (1) DOES NOT APPLY TO A FAILURE BY A FOREIGN

2 CORPORATION TO COMPLY WITH SECTION 1011 OF THE BUSINESS

3 CORPORATION ACT, 1972 PA 284, MCL 450.2011, OR SECTION 1011 OF

4 THE NONPROFIT CORPORATION ACT, 1982 PA 162, MCL 450.3011.

05709'01 Final page. DAM