SENATE BILL No. 920

 

 

May 1, 2014, Introduced by Senator PAPPAGEORGE and referred to the Committee on Veterans, Military Affairs and Homeland Security.

 

 

 

     A bill to amend 1972 PA 284, entitled

 

"Business corporation act,"

 

by amending section 1060 (MCL 450.2060), as amended by 2012 PA 315.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 1060. (1) The fees a person shall pay to the

 

administrator when the documents described in this subsection are

 

delivered to him or her for filing are as follows:

 

     (a) Articles of a domestic corporation, $10.00.

 

     (b) Application of a foreign corporation for a certificate of

 

authority to transact business in this state, $10.00.

 

     (c) Amendment to the articles of a domestic corporation,

 

$10.00.

 

     (d) Amended application for a certificate of authority to

 

transact business in this state, $10.00.


 

     (e) Certificate of merger, conversion, or share exchange under

 

chapter 7, $50.00.

 

     (f) Certificate attesting to the occurrence of a merger of a

 

foreign corporation under section 1021, $10.00.

 

     (g) Certificate of dissolution, $10.00.

 

     (h) Application for withdrawal and issuance of a certificate

 

of withdrawal of a foreign corporation, $10.00.

 

     (i) Application for reservation of corporate name, $10.00.

 

     (j) Certificate of assumed name or a certificate of

 

termination of assumed name, $10.00.

 

     (k) Statement of change of registered office or resident

 

agent, $5.00.

 

     (l) Restated articles of domestic corporations, $10.00.

 

     (m) Certificate of abandonment, $10.00.

 

     (n) Certificate of correction, $10.00.

 

     (o) Certificate of revocation of dissolution proceedings,

 

$10.00.

 

     (p) Certificate of renewal of corporate existence, $10.00.

 

     (q) For examining a special report required by law, $2.00.

 

     (r) Certificate of registration of corporate name of a foreign

 

corporation, $50.00.

 

     (s) Certificate of renewal of registration of corporate name

 

of a foreign corporation, $50.00.

 

     (t) Certificate of termination of registration of corporate

 

name of a foreign corporation, $10.00.

 

     (u) Report required under section 911, $15.00 if paid before

 

October 1, 2003 or after September 30, 2015. After September 30,


 

2003 and before October 1, 2015, the fee is $25.00.

 

     (2) The fees described in subsection (1) are in addition to

 

any franchise fees prescribed in this act. The administrator shall

 

not refund all or any part of a fee described in this section.

 

     (3) Except as provided in subsection (9), the administrator

 

shall deposit all fees received and collected under this section in

 

the state treasury to the credit of the administrator, who may only

 

use the money credited pursuant to legislative appropriation and

 

only in carrying out those duties of the department required by

 

law.

 

     (4) The fees described in this section apply to documents

 

filed by a domestic or foreign regulated investment company as

 

defined in section 1064.

 

     (5) If any money received by the administrator from fees paid

 

under subsection (1)(u) is not appropriated to the department in

 

that fiscal year, the money remaining from those fees shall revert

 

to the general fund of this state.

 

     (6) A minimum charge of $1.00 for each certificate and 50

 

cents per folio shall be paid to the administrator for certifying a

 

part of a file or record pertaining to a corporation if a fee for

 

that service is not described in subsection (1). The administrator

 

may furnish copies of documents, reports, and papers required or

 

permitted by law to be filed with the administrator, and shall

 

charge for those copies the fee established in a schedule of fees

 

adopted by the administrator with the approval of the state

 

administrative board. The administrator shall retain the revenue

 

collected under this subsection, and the department shall use it to


 

defray the costs for its copying and certifying services.

 

     (7) If a domestic or foreign corporation pays fees or

 

penalties by check and the check is dishonored, the fee is unpaid

 

and the administrator shall rescind the filing of all related

 

documents.

 

     (8) The administrator may accept a credit card in lieu of cash

 

or check as payment of a fee under this act. The administrator

 

shall determine which credit cards he or she shall accept for

 

payment.

 

     (9) The administrator may charge a nonrefundable fee of up to

 

$50.00 for any document submitted or certificate sent by facsimile

 

or electronic transmission. The administrator shall retain the

 

revenue collected under this subsection and the department shall

 

use it to carry out its duties required by law.

 

     (10) The administrator shall waive any fee otherwise required

 

under this section if a majority of the shares of the domestic or

 

foreign corporation responsible for paying the fee are , and the

 

corporation provides proof satisfactory to the administrator that

 

those shares are, held by 1 or more honorably discharged veterans

 

of the armed forces of the United States.held, or will initially be

 

held, by individuals who served in the armed forces and were

 

separated from that service with an honorable character of service

 

or under honorable conditions (general) character of service.

 

     (11) To request a fee waiver under subsection (10), the

 

incorporators shall submit both of the following to the

 

administrator with the document submitted for filing under this

 

section:


 

     (a) A signed affidavit requesting the fee waiver and

 

certifying that a majority of the shares are held, or a majority of

 

the initial shares of the corporation will be held, by individuals

 

who served in the armed forces and were separated from that service

 

with an honorable character of service or under honorable

 

conditions (general) character of service.

 

     (b) Copies of form DD214 or form DD215, or any other form that

 

is satisfactory to the department, for each individual described in

 

subdivision (a) who is a shareholder, or will be an initial

 

shareholder, of the corporation.

 

     (12) As used in this section, "armed forces" means that term

 

as defined in section 2 of the veteran right to employment services

 

act, 1994 PA 39, MCL 35.1092.