Sec. 861. A corporation for which a plan of reorganization has been confirmed by the judgment of a court of competent jurisdiction pursuant to any applicable law of this state or the United States may put into effect and carry out the plan without action by its directors or shareholders. Such action may be taken, as directed in the judgment, by the receiver or trustee of the corporation appointed in the reorganization proceedings, or by any other person designated by the court.
Mich. Comp. Laws § 450.1861
Implementation of judicially confirmed plan of reorganization
Applied in 1 court decision — leading case Trustees for Michigan Carpenters Council Health & Welfare Fund v. C.J. Rogers, Inc. (1991)
Most recently applied in Trustees for Michigan Carpenters Council Health & Welfare Fund v. C.J. Rogers, Inc. (May 1991)
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.