Sec. 103. This act shall be liberally construed and applied to promote its underlying purposes and policies which include all of the following: (a) To simplify, clarify, and modernize the law governing business corporations. (b) To provide a general corporate form for the conduct or promotion of a lawful business or purpose with variations and modifications from the form as interested parties in any corporation may agree upon, subject only to overriding interests of this state and of third parties. (c) To give special recognition to the legitimate needs of close corporations.
Mich. Comp. Laws § 450.1103
Liberal construction; purposes and policies of act
Applied in 8 court decisions — leading case Trustees for Michigan Carpenters Council Health & Welfare Fund v. C.J. Rogers, Inc. (1991)
Most recently applied in Madugula v. Taub (July 2014)
1972, Act 284, Eff
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.