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32 chapters · 761 sections in this title.
Mich. Comp. Laws § 450.731 Short title.
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Sec. 1. This act shall be known and may be cited as "the employee-owned corporation act".
Mich. Comp. Laws § 450.732 Definitions.
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Sec. 2. As used in this act: (a) "Closing" means the permanent shutting down of operations at any establishment at which at least 25 persons are employed. (b) "Department" means the department of labor. (c) "Employee-owned corporation" means a business operation that is controlle…
Mich. Comp. Laws § 450.733 Program to assist in developing employee-owned corporations; establishment; operation; duty of department.
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Sec. 3. The department, in cooperation with the department of commerce, shall establish a program to assist in developing employee-owned corporations. The program may operate when an establishment is closing or transferring operations resulting in a loss of jobs and when a reques…
Mich. Comp. Laws § 450.734 Powers of department generally.
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Sec. 4. The department may do all of the following: (a) Develop, collect, and disseminate information useful to persons and organizations throughout the state in undertaking or promoting the establishment and successful operation of employee-owned corporations. (b) Evaluate the f…