Michigan Legislature - Act 192 of 1962

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95th Legislature Regular Session
Michigan Compiled Laws Complete Through PA 242 of 2009

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mcl act 192 of 1962

Act 192 of 1962

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PROFESSIONAL SERVICE CORPORATION ACT
Act 192 of 1962
AN ACT authorizing the creation of professional service corporations; providing definitions; providing exceptions; providing the manner and method of creating such corporations; providing for individual liability of officers, employees and agents of such corporations in certain instances; authorizing certain investments of corporate funds; regulating the issuance and transfer of capital stock; providing forfeiture of corporate franchise in certain instances; and requiring identification as a corporation.

History: 1962, Act 192, Eff. Mar. 28, 1963 ;-- Am. 1963, Act 153, Eff. Sept. 6, 1963

Document	Type	Description
Section 450.221	Section	Professional service corporation act; short title.
Section 450.222	Section	Definitions.
Section 450.223	Section	Application of act.
Section 450.224	Section	Professional corporation for pecuniary profit; organization; shareholders to be licensed; rendering of professional services; legal authorization; licensed person of another jurisdiction.
Section 450.225	Section	Professional services to be rendered through licensed or authorized officers, employees, and agents.
Section 450.226	Section	Professional service corporations; licensee; negligence, wrongful acts, misconduct; liability.
Section 450.227	Section	Engaging in other businesses; investments; ownership of property; partnership; incorporator or shareholder.
Section 450.228	Section	Professional service corporations; capital stock; voting trust agreement; limitation.
Section 450.229	Section	Severance of employment and financial interests by disqualified licensee; noncompliance; forfeiture of articles; dissolution of corporation.
Section 450.230	Section	Sale or transfer of shares; redemption or purchase of shares.
Section 450.231	Section	Corporate name.
Section 450.232	Section	Repealed. 1980, Act 216, Imd. Eff. July 18, 1980.
Section 450.233	Section	Applicability of business corporation act; consolidation or merger.
Section 450.234	Section	Construction of act.
Section 450.235	Section	Annual report.

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