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SBM Business Law Section eNewsletter

December 2008

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News

Chair's Letter from Diane L. Akers
This holiday season comes with more uncertainty in the business world than most of us would like or have dealt with before. Many of our business clients are struggling and trying to make do with what may be diminishing resources. Many business lawyers are in the same position. This is an especially good time to offer our clients, friends, families and each other an extra bit of constancy and stability. As we extend and receive holiday wishes, perhaps we can take a moment to make a call, jot a note, or in some other way underscore the significance of our ongoing relationships. Ups and downs will come and go. It's important that those we serve, our colleagues, and those we value in our lives know that we remain steadfast through whatever the future may bring.

Seeking Information on Nonprofit Corporations
During the summer of 2008, the Michigan Nonprofit Corporation Act was amended to prohibit nonprofit corporations from extending loans to officers of the nonprofit corporation and to require that all nonprofit corporations have at least three directors. The Nonprofit Corporation Committee is considering legislation that would create exceptions to those rules. Members of the Committee know that the board size requirement is affecting some private foundations and supporting organizations and that the ban on loans could impact the recruitment of physicians, clergy, and other personnel. The Committee is looking for additional information about organizations that may be adversely affected by the legislation. If you are aware of information that may be helpful to the Committee or have additional examples that you would like to bring to the attention of the Committee, please contact Co-Chair Jane Forbes.

DLEG Implements Filing Changes
Effective October 1, the Corporation Division made available a separate fax number for customers to use when establishing or updating a MICH-ELF filer account. The new fax number for filer accounts only is (517) 241-6445. MICH-ELF filers and applicants should no longer submit updates by e-mail or the existing MICH-ELF fax number, but instead should use the new number. This change will enable the Corporation Division to separate applications and updates from document submissions so that document requests can be processed more promptly.

 

Section Events

  • December 2—Commercial Litigation Committee Meeting (Bloomfield Hills)

  • December 6—Section Council Meeting (Southfield)

  • December 10—Meeting of Climate Change and Sustainability Ad Hoc Committee (Detroit)

  • February 5—ICLE's 2009 LLC & Business Entity Update (Grand Rapids)

  • March 19—Section Council Meeting (Lansing)

  • May 8—21st Annual Business Law Institute (Grand Rapids)

Other Events

  • December 9—ICLE's Advising the Small Employer on Discipline and Discharge of Employees (Ann Arbor)

  • February 7–14—Family Law Section Winter Seminar (Mexico)

  • March 10—ICLE Understanding Financial Statements (Ann Arbor)

  • May 20—ICLE Environmental Issues for Business Lawyers (Ann Arbor)