Purpose

Agency: Licensing and Regulatory Affairs

Profit Corporation
This provision may enumerate any purpose(s) for which a corporation may be formed or may contain a statement that the corporation shall have unlimited power to engage in and to do any lawful act concerning any or all lawful business activities for which corporations may be organized under the Michigan Business Corporation Act, commonly called an "all purpose clause". If a corporation is not going to use an "all purpose clause" then the key is to provide enough information to determine whether the company's purpose is permitted under law.

Nonprofit Corporation
The purpose of the nonprofit corporation must be specific. It must give enough information to make it clear what the corporation will do. Using the term "any lawful purpose" alone is not adequate and the document would be returned for clarification.