HB-4917, As Passed House, April 26, 2018
September 7, 2017, Introduced by Rep. Howrylak and referred to the Committee on Commerce and Trade.
A bill to amend 1972 PA 284, entitled
"Business corporation act,"
by amending section 921 (MCL 450.1921), as amended by 1982 PA 407.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 921. (1) If a domestic or foreign corporation neglects or
refuses
to file a report or pay a fee required by under this act
within the time specified, the corporation, in addition to its
liability for the fee, is subject to a penalty of $10.00 for each
month
or part of a month 1-month
period or part of a 1-month period
that
the corporation is delinquent , not to exceed or $50.00,
whichever is less.
(2)
The penalty prescribed in this section shall does not
apply
during an extension granted pursuant to under section 923.
(3)
As to penalties assessed under this section, the The
administrator
may waive the assessment of the penalties a penalty
under
this section, in whole or in part, where
if it appears the
assessment
of the penalties would constitute penalty constitutes an
improper
and inequitable imposition upon on
the corporation and the
administrator
finds the waiver of such penalties to be that penalty
is in the public interest.
Enacting section 1. This amendatory act takes effect 90 days
after the date it is enacted into law.