Sec. 803. (1) A corporation may be dissolved by action of its incorporators or directors, if the corporation complies with all of the following conditions: (a) Has not commenced business. (b) Has not issued any shares. (c) Has no debts or other liabilities. (d) Has received no payments on subscriptions for its shares, or, if it has received payments, has returned them to those entitled thereto, less any part thereof disbursed for expenses. (2) The dissolution of the corporation shall be effected by a majority of the incorporators or directors, executing and filing a certificate of dissolution stating: (a) The name of the corporation. (b) That the corporation has not commenced business and has issued no shares, and has no debts or other liabilities. (c) That the corporation has received no payments on subscriptions to its shares, or, if it has received payments, has returned them to those entitled thereto, less any part thereof disbursed for expenses. (d) That a majority of the incorporators or directors have elected that the corporation be dissolved.
Mich. Comp. Laws § 450.1803
Conditions to dissolution by incorporators or directors; certificate of dissolution
1972, Act 284, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.