Sec. 123. (1) Unless otherwise provided in, or inconsistent with, the act under which a corporation is or has been formed, this act applies to deposit and security companies, summer resort associations, brine pipeline companies, telegraph companies, telephone companies, safety and collateral deposit companies, canal, river, and harbor improvement companies, cemetery, burial, and cremation associations, railroad, bridge, and tunnel companies, and agricultural and horticultural fair societies. The entities specified in this subsection are not incorporated under this act. (2) This act does not apply to insurance, surety, savings and loan associations, fraternal benefit societies, and banking corporations. (3) This act does not prevent a telephone corporation organized under 1883 PA 129, MCL 484.1 to 484.10, from converting into a domestic limited liability company under the Michigan limited liability company act, 1993 PA 23, MCL 450.4101 to 450.5200.
Mich. Comp. Laws § 450.1123
Applicability of act generally
Applied in 4 court decisions — leading case 258 Mich. App. 260 - Churella v. Pioneer State Mutual Insurance (2003)
Most recently applied in 307 Mich. App. 402 - Hogg v. Four Lakes Association, Inc (October 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.