Sec. 1032.
Upon filing the application for withdrawal, and payment of the filing fee prescribed by law, the administrator shall issue to the foreign corporation a certificate of withdrawal, and the following shall occur:
(a) The authority of the foreign corporation to transact business in this state shall cease.
(b) The authority of its resident agent in this state to accept service of process against the foreign corporation is revoked.
History: 1972, Act 284, Eff. Jan. 1, 1973 ;-- Am. 1989, Act 121, Eff. Oct. 1, 1989