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Section 450.2301 - Payment or Distribution of Assets, Income, or Profit; Conferring Benefits on Shareholders or Members; Transfer of Money or Property to or for Benefit of Directors or Officers; Dividends or Distributions to Shareholders or Members;... - Sec. 301. (1) A payment or distribution of any part...
Section 450.2302 - Corporation Organized Upon Nonstock Basis. - Sec. 302. A corporation shall be organized upon a stock...
Section 450.2303 - Corporation Organized on Stock Basis; Issuance of Shares Authorized in Articles of Incorporation; Rules of Qualification and Government of Shareholders. - Sec. 303. (1) A corporation that is organized on a...
Section 450.2303a - Corporation Board Organized on Stock Basis; Amendment of Articles of Incorporation Deleting Reference to Par Value. - Sec. 303a. The board of a corporation that is organized...
Section 450.2303b - Conversion of Shares Into Shares of Any Class or Bonds; Conversion of Bonds Into Other Bonds or Shares; Authorization of Board to Increase Authorized Shares. - Sec. 303b. (1) If provided in the articles of incorporation,...
Section 450.2303c - Issuance of Bonds Convertible Into Shares or Shares Convertible Into Other Shares of Corporation; Condition; Cancellation of Converted Bonds; Restoration of Converted Shares. - Sec. 303c. (1) A corporation shall not issue bonds that...
Section 450.2303d - Shares Redeemable in Cash, Bonds, Securities, or Other Property; Prices and Conditions. - Sec. 303d. The articles of incorporation may provide for 1...
Section 450.2304 - Corporation Organized on Membership Basis; Provisions of Articles or Bylaws; Rights, Preferences, and Limitations of or on Members; Classes of Members; Voting Rights; Condominium Association; Homeowners or Property Owners Associati... - Sec. 304. (1) Except as otherwise provided in this act,...
Section 450.2305 - Corporation Organized on Directorship Basis; Members; Voting; Matters Subject to Action by Board of Directors. - Sec. 305. (1) A corporation that is organized on a...
Section 450.2307 - Subscription for Shares or Membership; Enforceability; Irrevocability; Acceptance; Consent to Revocation; Subscription Agreement. - Sec. 307. (1) A subscription for shares or membership made...
Section 450.2308 - Subscription for Shares or Membership; Payment; Installments; Call for Payment Ratable; Retention of Security Interest as Security for Performance by Subscriber. - Sec. 308. Unless otherwise provided in the subscription agreement: (a)...
Section 450.2309 - Default in Payment of Amount Due Under Subscription Agreement; Rights and Duties of Corporation; Limiting and Adding to Rights and Remedies of Corporation. - Sec. 309. (1) If a subscriber defaults in payment of...
Section 450.2310 - Rescission of Subscription Under Which Part of Shares Issued and in Which Security Interest Retained as Cancellation of Shares. - Sec. 310. Rescission by a corporation of a subscription under...
Section 450.2311 - Fees or Dues Required as Condition of Shareholding or Membership; Fixing; Enforcement. - Sec. 311. A corporation may fix in the bylaws, or...
Section 450.2312 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to issuance of shares...
Section 450.2313 - Corporation, Foreign Corporation, Business Corporation, Foreign Business Corporation, Limited Liability Company, Unincorporated Association, Partnership, or Other Person as Shareholder or Member; Officers and Directors as Director... - Sec. 313. (1) Except as otherwise provided in the articles...
Section 450.2314 - Corporation Organized on Stock Basis; Issuance of Shares; Powers. - Sec. 314. (1) All of the following apply to the...
Section 450.2315 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to consideration for issuance...
Section 450.2317 - Person Purchasing Shares of Corporation; Person Holding Stock or Membership in Fiduciary or Representative Capacity; Person Becoming Assignee, Transferee, or Pledgee of Shares or Membership; Liability. - Sec. 317. (1) A person that purchases shares of a...
Section 450.2327 - Charges and Expenses of Organization or Reorganization; Sale or Underwriting Expenses and Compensation; Payment or Allowance. - Sec. 327. The reasonable charges and expenses of organization or...
Section 450.2331 - Representation of Shares by Certificates; Signatures of Officers; Seal; Facsimiles. - Sec. 331. Except as provided in section 336, the shares...
Section 450.2332 - Certificate Representing Shares; Required Statements. - Sec. 332. (1) A certificate that represents shares issued by...
Section 450.2334 - Lost or Destroyed Certificate; Issuance of New Certificate; Bond. - Sec. 334. A corporation may issue a new certificate for...
Section 450.2336 - Authorization of Shares Without Certificates. - Sec. 336. (1) Unless the articles of incorporation or bylaws...
Section 450.2338 - Issuing Fractions of Shares; Powers of Corporation; Providing Opportunity to Purchase Additional Fractions of Share or Scrip. - Sec. 338. (1) A corporation may issue fractions of a...
Section 450.2341a - Issuance of Shares Pro Rata and Without Consideration; Issuance of Shares as Share Dividend; "Share Dividend" Defined. - Sec. 341a. (1) Unless the articles of incorporation provide otherwise,...
Section 450.2343 - Preemptive Right of Shareholder of Corporation Organized on Stock Basis to Acquire Unissued Shares; Extent; Statement; Principles; "Shares" Defined. - Sec. 343. (1) The shareholders of a corporation organized on...
Section 450.2344 - Acquisition of Own Shares or Memberships; Amendment of Articles of Incorporation. - Sec. 344. (1) Subject to restrictions imposed under this act...
Section 450.2345 - Distributions to Shareholders or Members. - Sec. 345. (1) A board may authorize and the corporation...
Section 450.2361 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to shares redeemable upon...
Section 450.2363 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to shares redeemable at...
Section 450.2365 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to prohibiting purchase or...
Section 450.2371 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to cancellation or retention...
Section 450.2391 - Conferring Voting and Inspection Rights Upon Bond Holders; Signatures of Officers. - Sec. 391. (1) A corporation, in its articles of incorporation,...
Section 450.2392 - Applicability of Chapter to Distributions Made in Dissolution Under Chapter 8. - Sec. 392. This chapter does not apply to distributions made...