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BORDEN, INC. v. DEPT. OF TREASURY

No. 2 September Term 1973, Docket No. 54,419.

391 Mich. 495 (1974)

218 N.W.2d 667

BORDEN, INC. v. DEPARTMENT OF TREASURY

Supreme Court of Michigan.

Rehearing denied June 25, 1974.

Attorney(s) appearing for the Case

Dickinson, Wright, McKean & Cudlip (by T. Donald Wade and Benjamin O. Schwendener, Jr.), for plaintiff.

Frank J. Kelley, Attorney General, Robert A. Derengoski, Solicitor General, and Richard R. Roesch and Charles E. Liken, Assistants Attorney General, for defendant.

LEVIN, J. (for affirmance).

When, following receipt of the annual report of a corporation, the Franchise Fee Division "computes" the franchise fee of the corporation, it exhausts its authority under the statute. The Division is not authorized to re-compute the fee if it subsequently obtains what it regards as more accurate information.

The Division (or its predecessor, the Michigan Corporation and Securities Commission) stamped on Borden's reports...

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