A bill to amend 1972 PA 284, entitled “Business corporation act,” by amending sections 105, 106, 107, 109, 131, 143, 202, 209, 211, 261, 288, 404, 413, 441, 489, 505, 531, 535, 564a, 711, 745, 911, 1002, and 1060 (MCL 450.1105, 450.1106, 450.1107, 450.1109, 450.1131, 450.1143, 450.1202, 450.1209, 450.1211, 450.1261, 450.1288, 450.1404, 450.1413, 450.1441, 450.1489, 450.1505, 450.1531, 450.1535, 450.1564a, 450.1711, 450.1745, 450.1911, 450.2002, and 450.2060), sections 105, 106, 211, and 911 as amended by 2012 PA 569, sections 107 and 711 as amended by 1989 PA 121, section 109 as amended by 2015 PA 158, sections 131, 143, 202, and 288 as amended by 2018 PA 85, section 209 as amended by 1997 PA 118, sections 261 and 489 as amended by 2006 PA 68, sections 404 and 413 as amended by 2001 PA 57, section 441 as amended by 2006 PA 66, section 505 as amended by 1993 PA 91, sections 564a and 1002 as amended and section 745 as added by 2008 PA 402, and section 1060 as amended by 2023 PA 135, and by adding sections 152, 153, 154, 155, 156, 157, 158, 159, and 545b and chapter 9A.
SB 789 modernizes Michigan’s corporate law by introducing benefit corporations, updating governance and administrative procedures, and enhancing transparency and accountability for corporations pursuing both profit and public benefits.
Co-sponsored by Sens.
Referred to the Committee on Finance, Insurance, and Consumer Protection
