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Section 450.3100 - Short Title. - Sec. 1100. This chapter shall be known and may be...
Section 450.3101 - Applicability of Act and Chapter; Amendment of Articles or Bylaws; Exemption. - Sec. 1101. (1) Except as otherwise provided in this act...
Section 450.3102 - Controlling Definitions. - Sec. 1102. The definitions contained in sections 1103 and 1104...
Section 450.3103 - Definitions; C to F. - Sec. 1103. (1) "Consumer" means a natural person who acquires,...
Section 450.3104 - Definitions; I to U. - Sec. 1104. As used in this chapter: (a) "Insolvent" means...
Section 450.3107 - Inconsistent Provisions Inapplicable to Chapter. - Sec. 1107. To the extent that sections 301(4) and 301(5),...
Section 450.3109 - Requirements of MCL 460.1 Et Seq. Not Modified; Effect of Economic Activity Conducted by Cooperative. - Sec. 1109. (1) This chapter does not modify the requirements...
Section 450.3121 - Articles of Incorporation; Requirement. - Sec. 1121. In addition to the requirements of section 202,...
Section 450.3123 - Use of Term “Cooperative,”“co-Op,”“consumer Cooperative,” or Any Variation Thereof. - Sec. 1123. (1) The term "cooperative", "co-op", or any variation...
Section 450.3125 - Adoption of Initial Bylaws; Ratification or Amendment; Contents of Bylaws. - Sec. 1125. (1) Notwithstanding section 231, the initial bylaws of...
Section 450.3131 - Organization on Nonstock Membership Basis. - Sec. 1131. Notwithstanding section 302, a cooperative organized under this...
Section 450.3132 - Membership; Notice of Qualifications. - Sec. 1132. Subject to section 304(7), membership in a consumer...
Section 450.3133 - Classification. - Sec. 1133. If a cooperative has classes of members pursuant...
Section 450.3134 - Cooperative Organized on Member Capital Basis, Member Fee Basis, or Basis Combining Member Capital and Membership Fee; Powers. - Sec. 1134. (1) A cooperative which is organized on a...
Section 450.3135 - Net Savings; Determination, Allocation, Distribution, and Use; Apportionment of Losses. - Sec. 1135. (1) At least once each year, a cooperative...
Section 450.3136 - Certificate; Issuance; Contents; Restrictions on Dividends. - Sec. 1136. (1) If a cooperative is to be financed...
Section 450.3137 - Nonvoting Investment Certificate or Bond. - Sec. 1137. Subject to the uniform securities act, 1964 PA...
Section 450.3138 - Advising Persons in Writing; Statement on Membership Certificate. - Sec. 1138. Prior to accepting a person as a member...
Section 450.3139 - Redemption of Member Capital; Failure to Patronize Cooperative; Notice of Redemption; Failure to Respond and Claim Payment; Failure to Claim Refunds of Patronage Capital, Deposits, and Fees; Failure of Nonmember Patron to Pay in or... - Sec. 1139. (1) Unless the articles or bylaws provide that...
Section 450.3141 - Meetings; Petitions; Signatures; Quorum. - Sec. 1141. Regular meetings of members shall be held at...
Section 450.3143 - Alternative Notice of Regular Meeting. - Sec. 1143. Instead of the notice required in section 404,...
Section 450.3144 - Proxies; Voting by Mail Ballot, Referendum, or Electronic Transmission. - Sec. 1144. (1) Notwithstanding section 421, there shall be no...
Section 450.3145 - Amendments; Affirmative Vote of Majority. - Sec. 1145. Notwithstanding section 611(4), 703a(2)(d), 753(4), or 804(6), unless...
Section 450.3146 - Effective Date of Adopted Action; Confirmation Vote; Filing With Administrator. - Sec. 1146. (1) An action subject to the vote requirement...
Section 450.3147 - Dispute Resolution Body. - Sec. 1147. A cooperative may authorize in its articles or...
Section 450.3148 - Purchase or Sale Under Execution, in Course of Bankruptcy, or by Legal Process or Operation of Law; Pledge of Certificate; Assignment of Proprietary Lease or Other Agreement. - Sec. 1148. (1) The purchase or sale of any member...
Section 450.3149 - Books for Recording Operations; Annual Report, Balance Sheet, and Income Statement; Certified Report of Condition; Copies of Reports; Mailings at Request and Expense of Member; Notice of Member's Desire to Be Contacted by Other Mem... - Sec. 1149. (1) A cooperative shall keep a set of...
Section 450.3151 - Initial Board of Directors; Membership; Term. - Sec. 1151. Notwithstanding section 505, the initial board of directors...
Section 450.3152 - Board of Directors; Election or Appointment Other Than by Vote of Membership. - Sec. 1152. Notwithstanding section 505, the bylaws of a cooperative...
Section 450.3153 - Affiliation With Another Organization; Section Inapplicable to Allocations of Net Savings. - Sec. 1153. A vote of the membership shall be required...
Section 450.3161 - Amendment to Articles of Incorporation; Calling Special Meeting; Consideration of Proposed Amendment. - Sec. 1161. An amendment to the articles of incorporation may...
Section 450.3162 - Distribution of Assets Generally. - Sec. 1162. In the event of an amendment to the...
Section 450.3183 - Distribution of Assets Upon Dissolution; Distribution of Assets Held for Charitable or Similar Purpose; Redemption of Investment Certificates. - Sec. 1183. (1) Notwithstanding section 855, upon dissolution, the assets...
Section 450.3191 - Foreign Cooperative. - Sec. 1191. A foreign cooperative shall be entitled to conduct...
Section 450.3192 - Election by Corporation to Accept Act and Chapter; Procedure; Effect of Filing Certificate of Election. - Sec. 1192. (1) Any corporation may elect to accept this...