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New York Business Corporation Law section 1104-a, the holders of 20 per cent of voting shares of a non-public corporation may request that the corporation be wound up on grounds of oppression. NY Bus Corp Law §1118 and Alaska Plastics, Inc. v. Coppock , 621 P.2d 270 (1980) the minority can sue to be bought out at a fair value, determined by ...
The department, as the Department of Commerce, was formed in 1965 by Section 225 of the Executive Organization Act of 1965, 1965 PA 380, MCL 16.325.The Michigan Department of Licensing and Regulation was abolished with most responsibilities transferred to the newly formed Department. [1]
The most common federal taxable income is based on apportionment formulae. State and municipal taxes are deductible expenses for federal income tax purposes. [12] Most states tax domestic and foreign corporations on taxable income derived from business activities apportioned to the state on a formulary basis. Many states apply a "throw back ...
An unannotated edition of the MCL is published by the state of Michigan in print and online. [8] Unofficial, annotated versions are published by both West and LexisNexis. The West publication is Michigan Compiled Laws Annotated (MCLA); the LexisNexis version is the Michigan Compiled Laws Service (MCLS).
The 1963 Constitution requires that all permanent agencies or commissions, except universities, be assigned to one of a maximum of twenty principal departments. [1] The principal departments are the: [2] [3]
The internal affairs doctrine is a choice of law rule in corporate law.Simply stated, it provides that the "internal affairs" of a corporation (e.g. conflicts between shareholders and management figures such as the board of directors and corporate officers) will be governed by the corporate statutes and case law of the state in which the corporation is incorporated, [1] [2] [3] sometimes ...
The Model Business Corporation Act (MBCA) is a model act promulgated and periodically amended by the Corporate Laws Committee of the Business Law Section of the American Bar Association (Committee). The MBCA had been adopted by 36 states and other jurisdictions. [ 1 ]
The state treasurer of Michigan functions as the chief financial officer for the U.S. state of Michigan.The state treasurer oversees the collection, investment, and disbursement of all state monies, and also administers major tax laws, safeguards the credit of the state, and distributes revenue sharing monies to local units of government.