Mich. Comp. Laws § 600.3505
Current through Public Act 171 of the 2024 Legislative Session
If it appears to the court that the corporation is insolvent or that dissolution thereof would be beneficial to the stockholders and not injurious to the public, the court may dissolve the corporation and appoint a receiver of its estate and effects. Pending the hearing, the court may appoint a temporary receiver and prescribe his powers and duties.
MCL 600.3505