WeVote
Log In

Bill

Bill

SB 984

Businesses: business corporations; applicability of the business corporation act; modify. Amends sec. 123 of 1972 PA 284 (MCL 450.1123).

2023-2024 Regular Session Introduced by Dan Lauwers and 1 co-sponsor

Michigan law modifies its Business Corporation Act's applicability requirements, effective immediately, altering regulatory scope for state-chartered corporations.

ASSIGNED PA 0176'24 WITH IMMEDIATE EFFECT
#businesses:businesscorporations #communications:telecommunications
0
WeVote Research Nonpartisan
Bill Summary · SB 984

Legislative bill overview

SB 984 modifies Section 123 of Michigan's 1972 Business Corporation Act (MCL 450.1123), which defines the scope and applicability of business corporation regulations in the state. The bill has been signed into law and took effect immediately. The specific substantive changes to Section 123 are not detailed in the provided legislative action summary.

Why is this important

The Business Corporation Act is foundational Michigan law governing how corporations are formed, operated, and regulated. Modifications to its applicability can affect compliance requirements, liability protections, or operational obligations for Michigan businesses. The immediate effect designation indicates lawmakers considered the changes time-sensitive.

Potential points of contention

  • Lack of transparency in available information: The specific amendments to Section 123 are not publicly detailed here, making it difficult to assess whether the changes expand or restrict corporate regulation
  • Broad applicability: Changes to the Act's foundational provisions could have cascading effects across all Michigan corporations, potentially benefiting some business types while imposing new burdens on others
  • Bipartisan sponsorship ambiguity: While both sponsors represent different political perspectives, their specific policy goals behind this technical amendment are unclear without bill text analysis

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.