{"data":{"id":"us-mi/mich.-comp.-laws-450.1103","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 450.1103","heading":"Liberal construction; purposes and policies of act.","body":"Sec. 103.\n\nThis act shall be liberally construed and applied to promote its underlying purposes and policies which include all of the following:\n\nTo simplify, clarify, and modernize the law governing business corporations.\n\nTo provide a general corporate form for the conduct or promotion of a lawful business or purpose with variations and modifications from the form as interested parties in any corporation may agree upon, subject only to overriding interests of this state and of third parties.\n\nTo give special recognition to the legitimate needs of close corporations.","path":["MI Code","Chapter 450","Act Act-284-of-1972"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-450-1103","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"1ae6635d1cc3247aac5d2483484bfb3b09ce32655e49ce20cdfbb41804cd721d","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-450.1101","next":"us-mi/mich.-comp.-laws-450.1104"},"notice":"GroundRules: Original legal text. Not legal advice."}