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Act 327 of 1931 - Michigan General Corporation Statute (450.1 - 450.192)
Section 450.1-450.61 - Repealed. 1951, Act 239, Eff. Sept. 28, 1951;—1962, Act 174, Eff. Jan. 1, 1964;—1967, Act 67, Eff. Nov. 2, 1967;—1972, Act 284, Eff. Jan. 1, 1973. - Compiler's Notes: The repealed sections pertained to incorporation, articles of...
Section 450.62-450.64 - Repealed. 1982, Act 162, Eff. Jan. 1, 1983. - Compiler's Notes: The repealed sections pertained to renewal of corporate...
Section 450.65-450.80 - Repealed. 1972, Act 284, Eff. Jan. 1, 1973. - Compiler's Notes: The repealed sections pertained to corporate dissolution, agreements...
Section 450.81 - Repealed. 1982, Act 162, Eff. Jan. 1, 1983. - Compiler's Notes: The repealed section pertained to annual report of...
Section 450.82-450.91a - Repealed. 1972, Act 284, Eff. Jan. 1, 1973. - Compiler's Notes: The repealed sections pertained to profit and nonprofit...
Section 450.92 - Repealed. 1982, Act 162, Eff. Jan. 1, 1983. - Compiler's Notes: The repealed section pertained to failure of nonprofit...
Section 450.93-450.97 - Repealed. 1974, Act 140, Imd. Eff. June 5, 1974. - Compiler's Notes: The repealed sections pertained to procedure for acquiring...
Section 450.98 - Applicability of Act to Corporations Limiting Dividends or Voting Rights, and Conducting Not More Than 50% of Business With Nonstockholders or Nonmembers; Classification of Corporations Organized Under MCL 450.98 to 450.109 as Profit... - Sec. 98. (1) Corporations organized to conduct a lawful business...
Section 450.99 - Cooperative Plan; Definition; Allocation of Reserved Earnings; Cooperative Corporations; Use of Term “Cooperative,”“co-Op,” or Variation Thereof. - Sec. 99. Corporations may engage in any lawful business within...
Section 450.100 - Cooperative Corporations; Shares of Stock, Contents. - Sec. 100. Same; contents of certificates of stock. There shall...
Section 450.101 - Cooperative Corporations; Shareholders' Powers; Directors, Election, Term, Number; Voting. - Sec. 101. The shareholders of any cooperative corporation shall have...
Section 450.102 - Cooperative Corporations; Membership, Regulations. - Sec. 102. Same; membership. The shareholders of every co-operative corporation...
Section 450.103 - Cooperative Corporations; Amendments to Articles. - Sec. 103. Same; amendment to articles. One-tenth of the entire...
Section 450.104 - Cooperative Corporations; Reserve Funds, Investment; Shareholders, Vote. - Sec. 104. Same; investment of reserve fund. At any regular...
Section 450.105 - Cooperative Corporations; Purchase of Business; Payment, Methods. - Sec. 105. Same; purchase of business of another corporation. Whenever...
Section 450.106 - Cooperative Corporations; Distribution of Dividends; Reserves; Distribution of Cooperative Dividends; Determining Annual Privilege Fee. - Sec. 106. The shareholders of every cooperative corporation shall provide...
Section 450.107 - Cooperative Corporations; Surplus Earnings, Distribution; Failure, Penalty. - Sec. 107. Same; surplus earnings. The surplus earnings and profits...
Section 450.108 - Cooperative Corporations; Dealing in Commodities; Contracts, Agreements. - Sec. 108. Same; contracts and agreements. Every cooperative corporation engaged...
Section 450.109 - Cooperative Corporations; Breach of Contract; Encouragement Prohibited; Penalty. - Sec. 109. Same; persons liable for damage for encouraging breach...
Section 450.117-450.132a - Repealed. 1982, Act 162, Eff. Jan. 1, 1983. - Compiler's Notes: The repealed sections pertained to nonprofit corporations generally.
Section 450.133 - Incorporation of Fraternal or Secret Societies; Parent Lodge. - Sec. 133. Incorporation of fraternal, etc., societies. Any number of...
Section 450.134 - Parent Corporations; Articles of Incorporation. - Sec. 134. Parent lodge; articles of incorporation. If such society...
Section 450.135 - Parent Corporations; Ritual, Rules; Subordinate Lodges, Chartering. - Sec. 135. Same; ritual, and rules; chartering of subordinate lodges....
Section 450.136 - Parent Corporations; Supervision, Subordinate Lodge. - Sec. 136. Same; supervision of subordinate lodges. Every such parent...
Section 450.137 - Parent Corporations; Management, Secretary. - Sec. 137. Same; management, secretary. The fiscal and business affairs...
Section 450.138 - Parent Corporations; Name, Regulations. - Sec. 138. Same; name. No such parent corporation shall assume...
Section 450.139 - Parent Corporations; Powers as to Property. - Sec. 139. Same; powers in relation to property. Every such...
Section 450.140 - Parent Corporations; Government, Representative Form; First Annual Meeting. - Sec. 140. Same; representative form of government; first annual meeting....
Section 450.141 - Parent Corporations; Annual Meeting, Powers. - Sec. 141. Same; powers at annual meeting. The annual convention,...
Section 450.142 - Local Lodges; Purpose. - Sec. 142. Local lodges; purpose. Any number of persons who...
Section 450.143 - Local Lodges; Articles of Incorporation. - Sec. 143. Same; of articles of incorporation. The articles of...
Section 450.144 - Local Lodges; Powers as to Property; Parent Corporation, Supervision. - Sec. 144. Same; powers in relation to property. Every such...
Section 450.145 - Local Lodges; Officers, Representatives. - Sec. 145. Same; officers and representatives. Every such local lodge...
Section 450.146 - Parent or Local Lodges; Powers of Non-Profit Corporation. - Sec. 146. Same; powers. Every such corporation, whether parent or...
Section 450.147 - Parent or Local Lodges; Relief Funds, Raising, Payment From Treasury. - Sec. 147. Same; relief funds, etc. Every such lodge whether...
Section 450.148 - Trustee Corporations; Definition. - Sec. 148. Trustee corporations; definition. Corporations may be formed to...
Section 450.149 - Trustee Corporations; Trustees, Vesting of Property; Trust Instrument, Definition. - Sec. 149. Same; vesting of property in trustees; trust instrument...
Section 450.150 - Trustee Corporations; Articles of Incorporation. - Sec. 150. Same; articles of incorporation. The articles shall, in...
Section 450.151 - Trustee Corporations; Officers. - Sec. 151. Same; officers. Every trustee corporation shall have officers...
Section 450.152 - Trustee Corporations; Powers as to Property. - Sec. 152. Same; powers in relation to property. Unless otherwise...
Section 450.153 - Trustee Corporations; Property and Funds, Use, Investments. - Sec. 153. Same; use of property and funds; investments. The...
Section 450.154 - Trustee Corporations; Trustees, Vacancy, Filling. - Sec. 154. Same; vacancy; among trustees, filling. In any case...
Section 450.155 - Trustee Corporations; Circuit Courts, Petition; Jurisdiction of Court. - Sec. 155. Same; petition of trustees to circuit court; jurisdiction...
Section 450.156 - Trustee Corporations; Act Amendment of Trustee Agreement. - Sec. 156. Same; amendment of trust agreement. If the donor...
Section 450.157 - Trustee Corporation; Hospitals; Asylums; Trustee Instrument; Indenturing or Apprenticing Destitute or Foundling Children; Withdrawal. - Sec. 157. (1) In all cases where lands, or any...
Section 450.158 - Trustee Corporations; Hospital, Asylum, Charitable Institution; Gifts, Acceptance. - Sec. 158. Same; hospital; asylum, or other charitable institution. Whenever...
Section 450.159 - Church Trustee Corporations; Trustees, Election, Number; Certification of Election. - Sec. 159. Church trustee corporations; election of trustees. When there...
Section 450.159a - Church Trustee Corporations; Trustees, Increase, Decrease; Resolutions, Adoption; Meetings, Terms; Additional Trustee, Election. - Sec. 159a. Notwithstanding any provision or statement contained in the...
Section 450.160 - Church Trustee Corporations; Trustees, Vacancy, Filling. - Sec. 160. Same; vacancy among trustees, filling. Elections of trustees...
Section 450.161 - Church Trustee Corporations; Powers as to Property. - Sec. 161. Same; powers in relation to property. Trustees of...
Section 450.162 - Church Trustee Corporations; Investment, Powers, Certificate. - Sec. 162. Same; powers of investment. Trustees of church trustee...
Section 450.163-450.167 - Repealed. 1982, Act 162, Eff. Jan. 1, 1983. - Compiler's Notes: The repealed sections pertained to foundations generally.
Section 450.167a - Henry Ford Trade School; Dissolution; Cancellation of Franchise; Assets, Disposal, Sale; Debts, Payment; Retirement Program; Payment of Dissolution Charges; Certificate, Filing, Contents. - Sec. 167a. (a) Pursuant to section 167 of this act,...
Section 450.168 - Repealed. 1982, Act 162, Eff. Jan. 1, 1983. - Compiler's Notes: The repealed section pertained to the applicability of...
Section 450.169 - Corporations to Provide Student Aid. - Sec. 169. Same; corporations to provide student aid. Any corporation...
Section 450.170 - Educational Corporations; Incorporation. - Sec. 170. Any number of persons, not less than 3,...
Section 450.171 - Educational Corporations; Classification; Religious College Not Included; Filing of Articles of Incorporation; Statement; Guaranteed Annual Income as Credit to Capital; Use of "College", "University", or "Junior College" as Name; Ex... - Sec. 171. (1) For the purposes of this act, educational...
Section 450.172 - Educational Foundations; Colleges, Establishment. - Sec. 172. (a) Educational corporations of class (w) as defined...
Section 450.173 - Educational Foundations; Articles of Incorporation, Contents, Amendment. - Sec. 173. Same; articles of incorporation. The articles of every...
Section 450.174 - Educational Foundations; Property, Acceptance; Government. - Sec. 174. Same; acceptance of property. The directors or trustees...
Section 450.175 - Educational Foundations; Board of Directors, Trustees; Powers. - Sec. 175. Same; powers of board of directors or trustees....
Section 450.176 - Educational Corporations; Holders of Diplomas or Certificates; Privilege or Immunity. - Sec. 176. A diploma, certificate of graduation, or other evidence...
Section 450.177 - Educational Foundations; Inspection by State Board of Education, Time; Annual Report, Contents. - Sec. 177. Same; inspection by state board of education; annual...
Section 450.178 - Ecclesiastical Corporations; Incorporation; Purpose. - Sec. 178. Ecclesiastical corporations. Any number of persons, not less...
Section 450.179 - Ecclesiastical Corporations; Articles of Incorporation. - Sec. 179. Same; articles of incorporation. The articles of any...
Section 450.180 - Ecclesiastical Corporations; Articles, Execution, Contents; Receivership; Unclaimed Property, State. - Sec. 180. Same; execution and contents of articles; receivership; unclaimed...
Section 450.181 - Ecclesiastical Corporations; By-Laws. - Sec. 181. Same; by-laws. Every such ecclesiastical corporation shall have...
Section 450.182 - Ecclesiastical Corporations; Articles, Amendment Procedure. - Sec. 182. The articles of any such ecclesiastical corporation may...
Section 450.183 - Ecclesiastical Corporations; Powers as to Property. - Sec. 183. Same; powers in relation to property. Where no...
Section 450.184 - Ecclesiastical Corporations; Gifts, Acceptance, Investment. - Sec. 184. Any ecclesiastical corporation incorporated in this state may...
Section 450.184a - Organization and Operation of Religious College by Ecclesiastical Corporation. - Sec. 184a. (1) An ecclesiastical corporation that meets all of...
Section 450.185 - Ecclesiastical Corporations; Powers of Church Unrestricted. - Sec. 185. Same; powers of churches not restricted. Nothing in...
Section 450.186 - Ecclesiastical Corporations; Sunday School, Religious Society; Incorporation. - Sec. 186. Same; Sunday school or religious societies. Any 3...
Section 450.186a - Public Building Corporations; Incorporation; Contracts With State Administrative Board, Legislature's Approval. - Sec. 186a. Any number of persons, not less than 3,...
Section 450.186b - Public Building Corporations; Powers as to Property; State Contracts, Leases; Bonds; By-Laws. - Sec. 186b. Every such public building corporation shall have power...
Section 450.186c - Public Building Corporations; Non-Profit Provisions, Applicability; Administration of Property and Accumulation; Rent to State; Fees, Purpose. - Sec. 186c. Every such corporation shall be a nonprofit corporation...
Section 450.186d - Public Building Corporations; Trustees, Number, Terms, Compensation; Members, Term, Admission. - Sec. 186d. The trustees of every such corporation shall provide...
Section 450.186e - Public Building Corporations; Winding Up Affairs by Legislature; Property, Conservation, Disposition. - Sec. 186e. Should any such corporation cease to operate or...
Section 450.187 - Repealed. 1965, Act 161, Imd. Eff. July 15, 1965. - Compiler's Notes: The repealed section pertained to reincorporation of foreign...
Section 450.187a - Repealed. 1970, Act 66, Imd. Eff. July 10, 1970. - Compiler's Notes: The repealed section pertained to incorporation of foreign...
Section 450.187b - Repealed. 1972, Act 284, Eff. Jan. 1, 1973. - Compiler's Notes: The repealed section pertained to payment of franchise...
Section 450.188, 450.189 - Repealed. 1982, Act 162, Eff. Jan. 1, 1983. - Compiler's Notes: The repealed sections pertained to corporations incorporated under...
Section 450.190 - Catchline Headings of Sections Not Part of Act. - Sec. 190. Catchline headings of sections not part of act....
Section 450.191 - Repeal of Acts and Parts of Acts; MCL 450.631 and 450.632 Inapplicable to Corporations Governed by This Act. - Sec. 191. Repeal. The following acts and parts of acts...
Section 450.192 - Saving Clause. - Sec. 192. Saving clause. This act shall not impair or...
E.R.O. No. 1972-4 - Executive Reorganization Order (450.211 - 450.211)
Section 450.211 - Corporation Division; Transfer. - WHEREAS, the functions and responsibilities of the Corporation Division and...
Act 169 of 1965 - Dissolution of Charitable Purpose Corporations Act (450.251 - 450.253)
Section 450.251 - Charitable Purpose Corporations; Prohibited Conduct; Compliance With Subsection (2); Merger, Conversion, or Dissolution; Notice and Documents to Attorney General; Court Proceedings; Consent to Dissolution by Attorney General. - Sec. 1. (1) A nonprofit corporation, foundation, trustee corporation, or...
Section 450.251a - Short Title of Act. - Sec. 1a. This act shall be known and may be...
Section 450.252 - Acceptance of Certain Certificates and Amendments by Department of Licensing and Regulatory Affairs; Issuance of Certificate of Withdrawal. - Sec. 2. (1) The department of licensing and regulatory affairs...
Section 450.252a - Consent by Attorney General; Failure to Provide Written Notice Under Subsection (1); Submission of Affidavit; Judicial Review of Refusal of Attorney General to Consent to Transaction. - Sec. 2a. (1) If a charitable corporation or other entity...
Section 450.253 - Construction of Act. - Sec. 3. Nothing in this act shall be construed to...
Act 392 of 1978 - Validation of Audits (450.321 - 450.321)
Section 450.321 - Validation of Certain Audits. - Sec. 1. All audits performed by or at the direction...
Act 26 of 1963 (2nd Ex. Sess.) - Term of Existence of Domestic Corporations (450.371 - 450.372)
Section 450.371 - Domestic Corporations; Terms of Existence. - Sec. 1. Notwithstanding any other provision of law, the term...
Section 450.372 - Effective Date of Act. - Sec. 2. This act shall take effect on January 1,...
Act 2 of 1945 - Revival of Nonprofit Corporations (450.411 - 450.412)
Section 450.411 - Nonprofit Corporations; Renewal of Corporate Existence; New Articles; Reports; Fees; Penalty. - Sec. 1. Any nonprofit corporation organized under the laws of...
Section 450.412 - Nonprofit Corporations; Revival of Charter; Extension of Corporate Term; Validity of Corporate Acts. - Sec. 2. Upon the filing of such new articles and...
Act 138 of 1941 - Reinstatement of Cemetery Associations (450.471 - 450.473)
Section 450.471 - Nonprofit Cemetery Association; Reinstatement of Charter; Report; Penalty; Certificate; Filing Articles of Association. - Sec. 1. The charter of a nonprofit cemetery association which...
Section 450.472 - Non-Profit Cemetery Associations; Right Restoration; Contracts Validation. - Sec. 2. Upon compliance with the provisions of this act,...
Section 450.473 - Non-Profit Cemetery Associations; County Clerk, Duties. - Sec. 3. The clerk of each county of this state...
R.S. of 1846 - Revised Statutes of 1846 (450.504 - 450.525)
R-S-1846-450-504-55 - Chapter 55 Chapter 55. General Provisions Relating to Corporations. (450.504...450.525)
R-S-1846-450-504-55-CORPORATIONS - Corporations (450.504...450.525)
Section 450.504 - Absence or Death of Person Authorized to Call or Preside at Legal Meeting of Corporation; Application; Warrant to Call Meeting. - Sec. 4. If by reason of the death, absence, or...
Section 450.507 - Holding of Land; Subscriptions; Donations; Stock Transfer; Articles, Amendment. - Sec. 7. Every such corporation may hold land to an...
Section 450.519 - Contributions; Recovery in Chancery. - Sec. 19. When the officers or members of a corporation,...
Section 450.520 - Acts of Incorporation; Amendment, Alteration or Repeal. - Sec. 20. Every act of incorporation passed since the twentieth...
Section 450.521 - Assessing Officers; Returns, Contents. - Sec. 21. It shall be the duty of the clerk...
Section 450.522 - Assessing Officers; Returns, Default; Penalty. - Sec. 22. If any clerk or director mentioned in the...
Section 450.523 - Fraudulent Transfer of Shares to Avoid Taxation; Penalty. - Sec. 23. If any shareholder shall fraudulently transfer any share...
Section 450.524 - Returns to State Treasurer; Default, Computation, State Tax. - Sec. 24. The cashier of each bank and the secretary...
Section 450.525 - Attorney General and Legislature; Examination. - Sec. 25. It shall be the duty of the attorney...
Act 354 of 1917 - Practice of Law by Corporations and Voluntary Associations (450.681 - 450.681)
Section 450.681 - Practice of Law by Corporations and Voluntary Associations Prohibited; Exceptions; Penalty. - Sec. 1. It shall be unlawful for any corporation or...
R.S. of 1846 - Revised Statutes of 1846 (450.691 - 450.696)
R-S-1846-450-691-53 - Chapter 53 Chapter 53. of Libraries and Lyceums. (450.691...450.696)
R-S-1846-450-691-53-LIBRARIES-AND-LYCEUMS. - Libraries and Lyceums. (450.691...450.696)
Section 450.691 - Incorporation of Library by Proprietors; Meeting; Notice. - Sec. 1. Any 7 or more proprietors of a library...
Section 450.692 - Libraries; Proprietors; Powers; Proceedings, Certificate; Recording. - Sec. 2. Any 7 or more of the proprietors of...
Section 450.693 - Libraries; Powers of Corporation; Governing Law. - Sec. 3. When such proprietors shall be organized as a...
Section 450.694 - Libraries; Collector and Treasurer, Bond. - Sec. 4. The treasurer and collector shall give bond to...
Section 450.695 - Libraries; Shares, Assessment and Transfer; Holding of Property. - Sec. 5. The said proprietors may raise such sums of...
R-S-1846-450-691-53-LIBRARIES-AND-LYCEUMS-OF-LYCEUMS. - Of Lyceums. (450.696...450.696)
Section 450.696 - Libraries; Organization; Powers. - Sec. 6. Any 15 or more persons, in any township...
Act 156 of 1955 - Attorney in Fact for Service of Process (450.701 - 450.704)
Section 450.701 - Corporation Director, Manager, Trustee or Officer; Resident Agent, Attorney; Appointment, Duration. - Sec. 1. Every person, whether a resident or nonresident of...
Section 450.702 - Corporation Director, Manager, Trustee or Officer; Resident Agent; Service of Process, Copy Forwarded. - Sec. 2. Any such director, manager, trustee or other officer...
Section 450.703 - Corporation Director, Manager, Trustee or Officer; Continuance. - Sec. 3. In any action in which any director, manager,...
Section 450.704 - Corporation Director, Manager, Trustee or Officer; Resignation. - Sec. 4. Any person, director, manager, trustee or other officer...
Act 152 of 1985 - The Employee-Owned Corporation Act (450.731 - 450.738)
Section 450.731 - Short Title. - Sec. 1. This act shall be known and may be...
Section 450.732 - Definitions. - Sec. 2. As used in this act: (a) "Closing" means...
Section 450.733 - Program to Assist in Developing Employee-Owned Corporations; Establishment; Operation; Duty of Department. - Sec. 3. The department, in cooperation with the department of...
Section 450.734 - Powers of Department Generally. - Sec. 4. The department may do all of the following:...
Section 450.735 - Assistance in Implementing MCL 450.734. - Sec. 5. Each principal department and the economic advisory council,...
Section 450.736 - Notice of Decision to Close or Relocate Operations. - Sec. 6. The department shall encourage those business establishments considering...
Section 450.737 - Feasibility Study; Informational Meeting. - Sec. 7. If the department becomes aware pursuant to a...
Section 450.738 - Conditional Effective Date. - Sec. 8. This act shall not take effect unless House...
Act 428 of 1980 - State Procurements for Minority Owned and Woman Owned Businesses (450.771 - 450.776)
Section 450.771 - Definitions. - Sec. 1. As used in this act: (a) "Controlled" means...
Section 450.772 - Construction, Goods, and Services Procurement Policy; Minority Owned and Woman Owned Businesses; Provisions; Program Changes; Portion of Prime Contract Reflecting Minority Owned or Woman Owned Business Participation; Bidder Requirem... - Sec. 2. (1) The construction, goods, and services procurement policy...
Section 450.773 - Establishing Procurement Policy for Meeting Projected Goals; Report; Staff. - Sec. 3. (1) The governor shall establish a procurement policy...
Section 450.774 - Certification as Minority Owned or Woman Owned Business; Affidavit; Filing. - Sec. 4. A person who wishes to be certified as...
Section 450.775 - Violating or Conspiring to Violate Act; Fraudulent Procurement of Contract; Felony; Penalty; Barring Violator From Obtaining Future Contracts. - Sec. 5. A person who knowingly violates or conspires to...
Section 450.776 - Minority Owned or Woman Owned Business as Prime Contractor. - Sec. 6. If a minority owned or woman owned business...
Act 112 of 1988 - The Business Opportunity Act for Persons With Disabilities (450.791 - 450.795)
Section 450.791 - Short Title. - Sec. 1. This act shall be known and may be...
Section 450.792 - Definitions. - Sec. 2. As used in this act: (a) "Business owned...
Section 450.793 - Departmental Goals; Review of Progress; Recommendations; Changes in Programs; Consideration of Subcontracts and Joint Ventures; Consideration in Meeting Requirements of Subsections (1) and (3); Award of Contract to Lowest Qualified... - Sec. 3. (1) It shall be the goal of each...
Section 450.794 - Designation of Certifying Agency by Governor; Acceptable Documentation; Verification; Application Form; Affidavit and Documentation; Proof Required. - Sec. 4. (1) The governor shall designate a department responsible...
Section 450.795 - Fraudulent Procurement of Contract Prohibited; Violation as Felony; Penalty. - Sec. 5. (1) A person shall not fraudulently procure or...
Act 305 of 2000 - Uniform Electronic Transactions Act (450.831 - 450.849)
Section 450.831 - Short Title. - Sec. 1. This act shall be known and may be...
Section 450.832 - Definitions. - Sec. 2. As used in this act: (a) "Agreement" means...
Section 450.833 - Applicability of Act to Electronic Records and Signatures; Exception for 2020. - Sec. 3. (1) Except as otherwise provided in subsection (2)...
Section 450.834 - Applicability of Act; Commencement. - Sec. 4. This act applies to any electronic record or...
Section 450.835 - Scope of Act; Terms. - Sec. 5. (1) This act does not require a record...
Section 450.835a - Amending, Reaffirming, or Repealing Restrictive Covenant by Electronic Signature. - Sec. 5a. If restrictive covenants apply to more than 250...
Section 450.836 - Construction of Act. - Sec. 6. This act shall be construed and applied to...
Section 450.837 - Record or Signature in Electronic Form; Legal Effect; Enforcement. - Sec. 7. (1) A record or signature shall not be...
Section 450.838 - Agreement to Conduct Transaction by Electronic Means; Satisfaction of Legal Requirement. - Sec. 8. (1) If parties have agreed to conduct a...
Section 450.839 - Attribution of Electronic Record or Signature. - Sec. 9. (1) An electronic record or electronic signature is...
Section 450.840 - Change or Error in Transmission of Electronic Record. - Sec. 10. If a change or error in an electronic...
Section 450.841 - Signature Notarized, Acknowledged, Verified, or Made Under Oath; Satisfaction of Requirement. - Sec. 11. If a law requires a signature or record...
Section 450.842 - Retention of Record. - Sec. 12. (1) If a law requires that a record...
Section 450.843 - Evidence of Record or Signature in Criminal or Civil Proceeding. - Sec. 13. In a criminal or civil proceeding, evidence of...
Section 450.844 - Automated Transaction; Applicable Rules. - Sec. 14. In an automated transaction, all of the following...
Section 450.845 - Electronic Record Considered Sent or Received. - Sec. 15. (1) Unless otherwise agreed between the sender and...
Section 450.846 - Transferable Record. - Sec. 16. (1) As used in this section, "transferable record"...
Section 450.848 - Use of Electronic Records and Signatures by Governmental Agency; Determination by Department of Technology, Management, and Budget. - Sec. 18. (1) Except as otherwise provided in section 12(6),...
Section 450.848a - Strict Compliance Exception for 2020 to 2021; Applicability to Transactions Under Uniform Commercial Code. - Sec. 18a. (1) Notwithstanding any other provision of this act,...
Section 450.849 - Standards Adopted by Other Governmental Agencies. - Sec. 19. (1) The department of management and budget may...
Act 284 of 1972 - Business Corporation Act (450.1101 - 450.2099)
284-1972-1 - Chapter 1 General Provisions (450.1101...450.1151)
Section 450.1101 - Short Title. - Sec. 101. This act shall be known and may be...
Section 450.1103 - Liberal Construction; Purposes and Policies of Act. - Sec. 103. This act shall be liberally construed and applied...
Section 450.1104 - Definitions Controlling Interpretation of Act. - Sec. 104. The definitions contained in sections 105 through 109...
Section 450.1105 - Definitions; A, B. - Sec. 105. (1) "Administrator" means the chief officer of the...
Section 450.1106 - Definitions; C to E. - Sec. 106. (1) "Corporation" or "domestic corporation" means a corporation...
Section 450.1107 - Definitions; F to I. - Sec. 107. (1) "Foreign corporation" means a corporation for profit...
Section 450.1108 - Definitions; N to P. - Sec. 108. (1) "Nonprofit corporation" or "domestic nonprofit corporation" means...
Section 450.1109 - Definitions; S. - Sec. 109. (1) "Services in a learned profession" means services...
Section 450.1110 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section contained definitions.
Section 450.1121 - Applicability of Act to Domestic and Foreign Corporations. - Sec. 121. This act applies to every domestic corporation and...
Section 450.1122 - References to Repealed Acts; Statutes Inapplicable to Corporations Defined in MCL 450.1106; Uniform Voidable Transactions Act Inapplicable to Distributions. - Sec. 122. (1) A reference in any statute of this...
Section 450.1123 - Applicability of Act Generally. - Sec. 123. (1) Unless otherwise provided in, or inconsistent with,...
Section 450.1125 - Applicability to Foreign Commerce, Interstate Commerce, and Federal Corporations. - Sec. 125. This act applies to commerce with foreign nations...
Section 450.1127 - Applicability to Existing Corporations; Saving Clause. - Sec. 127. (1) This act does not affect the duration...
Section 450.1129 - Amendment or Repeal of Act. - Sec. 129. This act may be supplemented, altered, amended or...
Section 450.1131 - Submission of Document; Delivery; Filing; Return of Copy or Original; Public Inspection; Maintaining Records or Files; Copies of Documents and Destroying Originals; Certified Reproduced Copy of Document as Evidence; Effective Date... - Sec. 131. (1) A document required or permitted to be...
Section 450.1132 - Filed Documents; Language, Form, Execution, and Contents. - Sec. 132. (1) A document filed with the administrator shall...
Section 450.1133 - Correction of Document Relating to Domestic or Foreign Corporation; Signing and Filing of Certificate of Correction; Contents of Certificate; Effective Date of Corrected Document. - Sec. 133. If a document relating to a domestic or...
Section 450.1141 - Corporate Action Without Notice or Lapse of Prescribed Time Period. - Sec. 141. When, under this act or the articles of...
Section 450.1142 - Notice or Communication Where Communication Unlawful or Where Notice or Communication Not Required; Statement. - Sec. 142. When a notice or communication is required to...
Section 450.1143 - Mailing Notice or Communication; Delivery; Electronic Transmission; "Address" Defined; Notice to Corporation's Resident Agent. - Sec. 143. (1) If a notice or communication is required...
Section 450.1151 - Failure to File Document; Notice; Refusing or Revoking Authorization of Foreign Corporation to Transact Business; Judicial Review. - Sec. 151. (1) If the administrator fails to promptly file...
284-1972-2 - Chapter 2 Formation; Purposes and Powers (450.1201...450.1275)
Section 450.1201 - Incorporators. - Sec. 201. (1) One or more persons may be the...
Section 450.1202 - Articles of Incorporation; Contents. - Sec. 202. The articles of incorporation shall contain all of...
Section 450.1204 - Articles of Incorporation; Provision as to Compromise, Arrangement, or Plan of Reorganization. - Sec. 204. The articles of incorporation may contain the following...
Section 450.1205 - Articles of Incorporation; Effect of Provision as to Compromise, Arrangement, or Plan of Reorganization. - Sec. 205. (1) When the provision of section 204 is...
Section 450.1209 - Articles of Incorporation; Permissible Provisions. - Sec. 209. (1) The articles of incorporation may contain any...
Section 450.1211 - Corporate Name; Required Words and Abbreviations. - Sec. 211. Except as provided in chapter 2A for a...
Section 450.1212 - Corporate Name; Conformity; Noncompliance of Corporate Name of Foreign Corporation as Bar to Certificate of Authority; Rights to Use of Corporate Name Not Created. - Sec. 212. (1) The corporate name of a domestic or...
Section 450.1213 - Assumption of Name Implying Banking, Insurance, Surety, or Trust Company; Prohibited Letters or Words; Corporation Licensed as Nursing Home; Use of Terms. - Sec. 213. (1) A corporation formed or existing under or...
Section 450.1215 - Corporate Name; Reservation of Right to Use; Transfer of Right. - Sec. 215. (1) A person may reserve the right to...
Section 450.1217 - Transacting Business Under Assumed Name; Certificate. - Sec. 217. (1) Except as provided in section 212 or...
Section 450.1221 - Beginning of Corporate Existence; Filing of Articles as Evidence. - Sec. 221. The corporate existence shall begin on the effective...
Section 450.1223 - Selection of Board; Adoption of Bylaws; First Meeting; Quorum; Election of Officers; Transaction of Business. - Sec. 223. Before or after filing of the articles of...
Section 450.1231 - Adoption, Amendment, or Repeal of Bylaws; Contents of Bylaws. - Sec. 231. The initial bylaws of a corporation shall be...
Section 450.1241 - Registered Office and Resident Agent Required; Address. - Sec. 241. (1) Each domestic corporation and each foreign corporation...
Section 450.1242 - Changing Registered Office or Resident Agent; Statement; Changing Address of Registered Office. - Sec. 242. (1) A domestic corporation or a foreign corporation...
Section 450.1243 - Resignation of Resident Agent. - Sec. 243. A resident agent of a domestic or foreign...
Section 450.1246 - Service of Process. - Sec. 246. (1) The resident agent appointed by a corporation...
Section 450.1251 - Formation of Corporation for Lawful Purpose; Exception; Aiding National Emergency. - Sec. 251. (1) A corporation may be formed under this...
Section 450.1261 - Corporate Powers. - Sec. 261. A corporation, subject to any limitation provided in...
Section 450.1271 - Asserting Lack of Corporate Capacity or Power. - Sec. 271. An act of a corporation and a transfer...
Section 450.1275 - Agreement to Pay Interest in Excess of Legal Rate; Defense of Usury Prohibited. - Sec. 275. A domestic or foreign corporation, whether or not...
284-1972-2A - Chapter 2a Professional Corporations (450.1281...450.1289)
Section 450.1281 - Incorporation as Professional Corporation. - Sec. 281. (1) A corporation must incorporate as a professional...
Section 450.1282 - Definitions. - Sec. 282. As used in this chapter: (a) "Licensed person"...
Section 450.1283 - Professional Corporation; Formation; Name. - Sec. 283. (1) Except as provided in this section, 1...
Section 450.1284 - Professional Corporation Subject to MCL 333.16101 to 333.18838. - Sec. 284. (1) Except as otherwise provided in subsection (2)...
Section 450.1285 - Professional Services; Licensure of Officers, Employee, and Agents; Other Laws; Liability. - Sec. 285. (1) A professional corporation shall not provide professional...
Section 450.1286 - Persons Required to Sever Employment With and Financial Interest in Professional Corporation; Exception; Failure to Comply With Section. - Sec. 286. (1) Subject to subsection (2), a person that...
Section 450.1287 - Professional Services; Limitation. - Sec. 287. (1) A professional corporation shall not engage in...
Section 450.1288 - Issuance of Capital Stock; Sale or Transfer of Shares; Voting Trust or Other Agreement; Redemption or Purchase of Shares. - Sec. 288. (1) A professional corporation shall not issue any...
Section 450.1289 - Professional Entity as Surviving Entity of Merger or Conversion. - Sec. 289. (1) A professional corporation that is the surviving...
284-1972-3 - Chapter 3 Capital Structure and Corporate Finance (450.1301...450.1392)
Section 450.1301 - Issuance and Classes of Shares; Rights, Preferences, and Limitations. - Sec. 301. (1) A corporation may issue the number of...
Section 450.1301a - Amendment Deleting Reference to Par Value. - Sec. 301a. The board by resolution may adopt and file...
Section 450.1302 - Class of Shares; Division and Issuance in Series; Rights and Preferences; Certificate; Resolution Eliminating Class or Series of Shares; Subsequent Resolution. - Sec. 302. (1) If provided for in the articles of...
Section 450.1303 - Convertible Shares and Bonds; Increase in Shares to Satisfy Conversion Privileges. - Sec. 303. (1) If the articles of incorporation provide, subject...
Section 450.1304 - Convertible Shares and Bonds; Conditions to Issuance; Disposition of Convertible Bonds or Shares. - Sec. 304. (1) Bonds or shares convertible into shares of...
Section 450.1304a - Redeemable Shares. - Sec. 304a. The articles of incorporation may provide for 1...
Section 450.1305 - Subscription for Shares. - Sec. 305. (1) A subscription for shares made before or...
Section 450.1306 - Subscription for Shares; Payment; Call; Security Interest. - Sec. 306. (1) Unless otherwise provided in the subscription agreement:...
Section 450.1307 - Subscription Agreement; Default in Payment; Rights and Duties of Corporation. - Sec. 307. (1) In case of default in payment of...
Section 450.1308 - Cancellation of Shares Upon Rescission of Subscription. - Sec. 308. Rescission by a corporation of a subscription under...
Section 450.1311, 450.1313 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed sections pertained to consideration for issuance...
Section 450.1314 - Reservation of Powers to Shareholders; Consideration for Authorized Issuance of Shares; Determination of Adequacy; Shares Fully Paid and Nonassessable; Rights and Privileges of Subscriber. - Sec. 314. (1) The powers granted in this section to...
Section 450.1315 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to payment of consideration...
Section 450.1317 - Liability of Purchaser, Holder, Subscriber, Assignee, Transferee, Pledgee, or Shareholder. - Sec. 317. (1) A purchaser from a corporation of its...
Section 450.1321 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to rights or options...
Section 450.1327 - Expenses of Organization and Reorganization; Expenses of Sale or Underwriting of Shares. - Sec. 327. The reasonable charges and expenses of organization or...
Section 450.1331 - Share Certificates. - Sec. 331. Except as provided in section 336, the shares...
Section 450.1332 - Share Certificates; Contents. - Sec. 332. (1) A certificate representing shares shall state upon...
Section 450.1334 - Share Certificates; Loss or Destruction; Bond. - Sec. 334. A corporation may issue a new certificate for...
Section 450.1335 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to shares or securities...
Section 450.1336 - Issuance or Transfer of Shares Without Certificates; Statement. - Sec. 336. (1) Unless the articles of incorporation or bylaws...
Section 450.1338 - Fractions of Share or Scrip. - Sec. 338. (1) A corporation may issue fractions of shares...
Section 450.1341 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to consideration for shares...
Section 450.1341a - Issuance of Shares Pro Rata and Without Consideration; Share Dividend. - Sec. 341a. (1) Unless the articles of incorporation provide otherwise,...
Section 450.1342 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to earned surplus and...
Section 450.1342a - Rights, Options, or Warrants. - Sec. 342a. (1) A corporation may issue rights, options, or...
Section 450.1343 - Preemptive Rights. - Sec. 343. (1) The shareholders of a corporation do not...
Section 450.1344 - Acquisition of Own Shares by Corporation; Shares as Authorized but Unissued; Reducing Number of Authorized Shares if Reissuance Prohibited; Restriction on Acquisition. - Sec. 344. (1) Subject to restrictions imposed by this act...
Section 450.1345 - Distributions to Shareholders; Record Date for Determining Entitlement; Prohibited Distribution; Determination; Measuring Effect of Distribution; Indebtedness to Shareholder; Obligation to Make Future Payments; Enforceability of Gu... - Sec. 345. (1) A board may authorize and the corporation...
Section 450.1351-450.1367 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed sections pertained to dividends, purchase, or...
Section 450.1368 - Repealed. 1997, Act 118, Imd. Eff. Oct. 24, 1997. - Compiler's Notes: The repealed section pertained to purchase by corporation...
Section 450.1371-450.1381 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed sections pertained to cancellation or retention...
Section 450.1391 - Inspection and Voting Rights of Bondholders; Facsimile Signatures. - Sec. 391. (1) A corporation, in its articles of incorporation,...
Section 450.1392 - Chapter Inapplicable to Distributions in Dissolution. - Sec. 392. This chapter shall not apply to distributions in...
284-1972-4 - Chapter 4 Shareholders (450.1401...450.1497)
Section 450.1401 - Meetings of Shareholders; Place. - Sec. 401. Meetings of shareholders may be held at a...
Section 450.1402 - Annual Meeting of Shareholders. - Sec. 402. An annual meeting of shareholders for election of...
Section 450.1403 - Special Meeting of Shareholders. - Sec. 403. A special meeting of shareholders may be called...
Section 450.1404 - Meetings of Shareholders; Notice; Adjournment; Result of Shareholder's Attendance at Meeting. - Sec. 404. (1) Except as otherwise provided in this act,...
Section 450.1405 - Participating in Meeting of Shareholders by Conference Telephone or Remote Communications. - Sec. 405. (1) Unless otherwise restricted by the articles of...
Section 450.1406 - Meeting of Shareholders; Duties of Chairperson. - Sec. 406. (1) At each meeting of shareholders, a chairperson...
Section 450.1406a - Electronic Transmission as Notice; Consent. - Sec. 406a. In addition to any other form of notice...
Section 450.1407 - Corporate Action Without Meeting, Notice, or Vote of Shareholders. - Sec. 407. (1) The articles of incorporation may provide that...
Section 450.1411 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to record date for...
Section 450.1412 - Fixing Record Dates for Certain Purposes. - Sec. 412. (1) For the purpose of determining shareholders entitled...
Section 450.1413 - List of Shareholders Entitled to Vote. - Sec. 413. (1) The officer or agent having charge of...
Section 450.1415 - Shareholder Meeting; Quorum. - Sec. 415. (1) Unless a greater or lesser quorum is...
Section 450.1421 - Proxy; Expiration; Means; Use of Reproduction of Writing or Transmission; Revocability; Incompetence or Death of Shareholder. - Sec. 421. (1) A shareholder entitled to vote at a...
Section 450.1422 - Irrevocable Proxy. - Sec. 422. A proxy which is entitled "irrevocable proxy", and...
Section 450.1423 - Revocable Proxy. - Sec. 423. (1) A proxy becomes revocable, notwithstanding a provision...
Section 450.1431 - Inspectors at Shareholders' Meetings. - Sec. 431. (1) If the bylaws require inspectors at a...
Section 450.1432 - Procedure Recognizing Beneficial Owner of Shares as Shareholder. - Sec. 432. (1) A corporation may establish a procedure by...
Section 450.1441 - Voting by Shareholders. - Sec. 441. (1) Each outstanding share is entitled to 1...
Section 450.1442 - Voting as a Class or Series. - Sec. 442. (1) The articles of incorporation may provide that...
Section 450.1444 - Voting Shares Standing in Name of Another Corporation; Voting Pledged Shares. - Sec. 444. (1) Shares standing in the name of another...
Section 450.1445 - Voting Shares Held by Representatives or Fiduciaries. - Sec. 445. (1) Shares held by a person in a...
Section 450.1446 - Voting by Joint Tenants or Tenants in Common. - Sec. 446. Shares held by 2 or more persons as...
Section 450.1447 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to voting of treasury...
Section 450.1447a - Voting Shares Owned by Second Corporation. - Sec. 447a. Absent an order of a court of competent...
Section 450.1448 - Voting of Redeemable Shares. - Sec. 448. After written notice of redemption of redeemable shares...
Section 450.1451 - Cumulative Voting. - Sec. 451. The articles of incorporation may provide that a...
Section 450.1455 - Articles Control Where Voting Requirements Exceed Those of Act. - Sec. 455. With respect to an action to be taken...
Section 450.1461 - Voting Agreements Between Shareholders. - Sec. 461. An agreement between 2 or more shareholders, if...
Section 450.1463 - Repealed. 1997, Act 118, Imd. Eff. Oct. 24, 1997. - Compiler's Notes: The repealed section pertained to management provision in...
Section 450.1466 - Voting Trust Agreement; Certificates. - Sec. 466. A shareholder may confer upon a trustee the...
Section 450.1467 - Responsibility of Voting Trustee; Determination of Right to Vote and Manner of Voting. - Sec. 467. (1) A trustee who votes shares subject to...
Section 450.1468 - Extending Duration of Voting Trust Agreement. - Sec. 468. (1) At any time within 12 months before...
Section 450.1471 - Shares as Personal Property; Shares Transferable. - Sec. 471. The shares of a corporation are personal property...
Section 450.1472 - Restriction on Transfer or Registration of Transfer of Bond or Share; Imposition; Enforcement. - Sec. 472. (1) A restriction on the transfer or registration...
Section 450.1473 - Permissible Restrictions on Transfer or Registration of Transfer of Bonds or Shares. - Sec. 473. In particular and without limitation of the generality...
Section 450.1481 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to preemptive rights.
Section 450.1485 - Corporate Books, Records, and Minutes. - Sec. 485. A corporation shall keep books and records of...
Section 450.1487 - Request for Balance Sheet, Statement of Income, and Statement of Source and Application of Funds; Inspection of Records; Court Order; Definition; Holder of Voting Trust Certificate Deemed Shareholder. - Sec. 487. (1) Upon written request of a shareholder, a...
Section 450.1488 - Shareholder Agreement. - Sec. 488. (1) An agreement among the shareholders of a...
Section 450.1489 - Action by Shareholder. - Sec. 489. (1) A shareholder may bring an action in...
Section 450.1491 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to parties and complaint...
Section 450.1491a - Definitions. - Sec. 491a. As used in this section and sections 492a...
Section 450.1492 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to discontinuance, compromise, or...
Section 450.1492a - Commencement of Derivative Proceeding by Shareholder; Criteria. - Sec. 492a. A shareholder may not commence or maintain a...
Section 450.1493 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to expenses of derivative...
Section 450.1493a - Commencement of Derivative Proceeding by Shareholder; Criteria. - Sec. 493a. A shareholder may not commence a derivative proceeding...
Section 450.1494 - Stay of Derivative Proceeding; Condition. - Sec. 494. If the corporation commences an investigation of the...
Section 450.1495 - Dismissal of Derivative Proceeding; Determination. - Sec. 495. (1) The court shall dismiss a derivative proceeding...
Section 450.1496 - Discontinuance or Settlement of Derivative Proceeding; Judicial Approval; Notice; Expense. - Sec. 496. A derivative proceeding may not be discontinued or...
Section 450.1497 - Termination of Derivative Proceeding; Order of Court. - Sec. 497. On termination of the derivative proceeding, the court...
284-1972-5 - Chapter 5 Directors and Officers (450.1501...450.1571)
Section 450.1501 - Management of Corporation; Qualifications of Director. - Sec. 501. The business and affairs of a corporation shall...
Section 450.1505 - Number, Election, and Term of Directors; Resignation; Designation, Compensation, and Expenses of Independent Director; Communication of Independent Director With Shareholders. - Sec. 505. (1) The board shall consist of 1 or...
Section 450.1506 - Division of Directors Into Classes; Terms of Directors in First, Second, or Third Class; Election. - Sec. 506. (1) The articles of incorporation or a bylaw...
Section 450.1511 - Removal of Directors by Shareholders. - Sec. 511. (1) The shareholders may remove 1 or more...
Section 450.1514 - Removal of Director by Court. - Sec. 514. (1) The circuit court of the county in...
Section 450.1515 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to vacancy on board...
Section 450.1515a - Filling Vacancy in Board. - Sec. 515a. (1) Unless otherwise limited by the articles of...
Section 450.1521 - Regular or Special Meetings of Board. - Sec. 521. (1) Regular or special meetings of a board...
Section 450.1523 - Quorum; Majority Vote as Constituting Action of Board. - Sec. 523. (1) A majority of the members of the...
Section 450.1525 - Consent to Action of Board Without Meeting. - Sec. 525. (1) Unless prohibited by the articles of incorporation...
Section 450.1527 - Committees; Designation by Board; Membership; Absence or Disqualification of Member; Terms. - Sec. 527. (1) Unless otherwise provided in the articles of...
Section 450.1528 - Committees; Powers and Authority; Limitations; Subcommittees. - Sec. 528. (1) A committee designated under section 527, to...
Section 450.1529 - Submission of Matter to Shareholder Vote. - Sec. 529. A corporation may agree by contract to submit...
Section 450.1531 - Officers of Corporation; Election or Appointment; Holding 2 or More Offices; Authority and Duties. - Sec. 531. (1) The officers of a corporation shall consist...
Section 450.1535 - Removal or Resignation of Officers; Contract Rights. - Sec. 535. (1) An officer elected or appointed by the...
Section 450.1541 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to discharge of duties...
Section 450.1541a - Director or Officer; Manner of Discharging Duties; Reliance on Information, Opinions, Reports, or Statements; Action Against Director or Officer; Limitations. - Sec. 541a. (1) A director or officer shall discharge his...
Section 450.1545 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to contracts or transactions...
Section 450.1545a - Interest of Director or Officer in Transaction; Compensation of Directors. - Sec. 545a. (1) A transaction in which a director or...
Section 450.1546 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to validity of contract...
Section 450.1548 - Loan, Guaranty, or Assistance by Corporation to Director, Officer, or Employee. - Sec. 548. (1) A corporation may lend money to, guarantee...
Section 450.1551 - Liability of Directors for Corporate Actions; Liability of Shareholders Accepting or Receiving Share Dividend or Distribution. - Sec. 551. (1) Directors who vote for, or concur in,...
Section 450.1552 - Rights of Director Against Whom Claim Is Successfully Asserted Under MCL 450.1551. - Sec. 552. (1) A director against whom a claim is...
Section 450.1553 - Presumption of Concurrence by Director in Corporation Action; Effect of Dissent. - Sec. 553. A director who is present at a meeting...
Section 450.1554 - Action Against Director or Shareholder; Limitation. - Sec. 554. An action against a director or shareholder for...
Section 450.1561 - Indemnification of Certain Persons Generally. - Sec. 561. A corporation has the power to indemnify a...
Section 450.1562 - Additional Provisions for Indemnification of Certain Persons. - Sec. 562. A corporation has the power to indemnify a...
Section 450.1563 - Indemnification Against Actual and Reasonable Expenses. - Sec. 563. To the extent that a director or officer...
Section 450.1564 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to payment of defense...
Section 450.1564a - Indemnification Under MCL 450.1561, MCL 450.1562, or MCL 450.1563; Determination and Evaluation; Designation of Committee or Selection of Independent Legal Counsel; Partial Indemnification; Payment Authorization; Indemnification f... - Sec. 564a. (1) Except as otherwise provided in subsection (5),...
Section 450.1564b - Payment or Reimbursement of Party in Advance of Final Disposition of Proceeding; Undertaking as Unlimited General Obligation; Evaluation of Reasonableness; Advancement of Expenses. - Sec. 564b. (1) A corporation may pay or reimburse the...
Section 450.1564c - Application for Indemnification to Court; Determination. - Sec. 564c. A director, officer, employee, or agent of the...
Section 450.1565 - Limitation on Total Amount of Expenses Advanced or Indemnified; Duration of Indemnification; Elimination or Impairment. - Sec. 565. (1) The indemnification or advancement of expenses provided...
Section 450.1567 - Liability Insurance. - Sec. 567. (1) A corporation may purchase and maintain insurance...
Section 450.1569 - “Corporation” Defined for Purposes of MCL 450.1561 to 450.1567; "Business Organization" Defined. - Sec. 569. (1) For purposes of sections 561 to 567,...
Section 450.1571 - Definitions. - Sec. 571. For the purposes of sections 561 to 567:...
284-1972-6 - Chapter 6 Amendments to Articles of Incorporation (450.1601...450.1651)
Section 450.1601 - General Power of Amendment. - Sec. 601. (1) A corporation may amend its articles of...
Section 450.1602 - Specific Powers of Amendment. - Sec. 602. Without limiting the general power of amendment granted...
Section 450.1611 - Articles of Incorporation; Amendment Procedure. - Sec. 611. (1) In addition to amendment under subsection (2)...
Section 450.1615 - Class Vote on Amendment. - Sec. 615. (1) The holders of the outstanding shares of...
Section 450.1621 - Dissent of Shareholder to Amendment; Payment to Dissenting Shareholder. - Sec. 621. (1) A holder of adversely affected shares who...
Section 450.1631 - Certificate of Amendment. - Sec. 631. (1) If an amendment to the articles of...
Section 450.1641 - Adoption of Restated Articles of Incorporation; Amendment. - Sec. 641. (1) A corporation may integrate into a single...
Section 450.1642 - Designation and Contents of Restated Articles; Omission. - Sec. 642. (1) Restated articles of incorporation must meet all...
Section 450.1643 - Signing and Filing Restated Articles; Execution; Original Articles Superseded; Status of Restated Articles. - Sec. 643. (1) Restated articles of incorporation adopted under section...
Section 450.1651 - Abandonment of Amendment; Certificate of Abandonment. - Sec. 651. Before the effective date of an amendment to...
284-1972-7 - Chapter 7 Corporate Combinations and Dispositions (450.1701...450.1774)
Section 450.1701 - Merger of Domestic Corporations; Adoption and Contents of Plan of Merger. - Sec. 701. (1) Two or more domestic corporations may merge...
Section 450.1702 - Plan of Share Exchange; Approval; Contents; Power of Corporation Not Limited. - Sec. 702. (1) A corporation may acquire all of the...
Section 450.1703 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to plan of merger...
Section 450.1703a - Plan of Merger or Share Exchange; Approval; Definitions. - Sec. 703a. (1) A plan of merger or share exchange...
Section 450.1704 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to authorization of merger.
Section 450.1706 - Merger With Domestic or Foreign Corporation; Execution of Certificate by Incorporators; Compliance. - Sec. 706. (1) A domestic corporation that has not commenced...
Section 450.1707 - Certificate of Merger or Share Exchange. - Sec. 707. (1) After a plan of merger or share...
Section 450.1711 - Merger of Parent and Subsidiary Corporations; Approval; Mailing Copy or Summary of Plan of Merger to Minority Shareholders; Waiver; Compliance; Effectuation of Merger Under Other Provisions. - Sec. 711. (1) A domestic corporation owning not less than...
Section 450.1712 - Merger of Parent and Subsidiary Corporations; Certificate of Merger. - Sec. 712. (1) After a plan of merger is adopted...
Section 450.1713 - Merger of Parent and Subsidiary Corporations; Approval of Shareholders. - Sec. 713. (1) Approval by shareholders of a subsidiary corporation...
Section 450.1721-450.1723 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed sections pertained to surviving or new...
Section 450.1724 - Merger; Applicable Provisions; Share Exchange. - Sec. 724. (1) When a merger takes effect, all of...
Section 450.1731-450.1734 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed sections pertained to merger or consolidation...
Section 450.1735 - Foreign Corporations and Domestic Corporations; Merger or Share Exchange; Compliance; Liability; Power of Foreign Corporation Not Limited. - Sec. 735. (1) One or more foreign corporations may merge...
Section 450.1736 - Merger of Domestic Corporation With Business Organization. - Sec. 736. (1) As used in this section: (a) "Business...
Section 450.1741 - Abandonment of Merger or Share Exchange. - Sec. 741. At any time before the effective date of...
Section 450.1745 - Conversion of Domestic Corporation Into Business Organization; Requirements; "Business Organization" and "Entity" Defined. - Sec. 745. (1) A domestic corporation may convert into a...
Section 450.1746 - Conversion of Business Organization Into Domestic Corporation; Requirements. - Sec. 746. (1) A business organization may convert into a...
Section 450.1751 - Disposition of Corporate Property and Assets; Approval by Shareholders. - Sec. 751. (1) A corporation may take any of the...
Section 450.1753 - Disposition of Corporate Property and Assets Not in Usual and Regular Course of Business; Recommendation and Submission of Transaction; Notice; Authorization; Abandonment; Disposition by Second Corporation; Transaction as Distribut... - Sec. 753. (1) Except as provided in section 751, a...
Section 450.1754 - Rights of Shareholders. - Sec. 754. Shareholders of a corporation that proposes to issue,...
Section 450.1761 - Definitions. - Sec. 761. As used in sections 762 to 774: (a)...
Section 450.1762 - Right of Shareholder to Dissent and Obtain Payment for Shares. - Sec. 762. (1) A shareholder is entitled to dissent from,...
Section 450.1763 - Rights of Partial Dissenter; Assertion of Dissenters' Rights by Beneficial Shareholder. - Sec. 763. (1) A record shareholder may assert dissenters' rights...
Section 450.1764 - Corporate Action Creating Dissenters' Rights; Vote of Shareholders; Notice. - Sec. 764. (1) If a proposed corporate action that creates...
Section 450.1765 - Notice of Intent to Demand Payment for Shares. - Sec. 765. (1) If a proposed corporate action that creates...
Section 450.1766 - Dissenters' Notice; Delivery to Shareholders; Contents. - Sec. 766. (1) If proposed corporate action creating dissenters' rights...
Section 450.1767 - Duties of Shareholder Sent Dissenter's Notice; Retention of Rights; Failure to Demand Payment or Deposit Share Certificates. - Sec. 767. (1) A shareholder sent a dissenter's notice described...
Section 450.1768 - Restriction on Transfer of Shares Without Certificates; Retention of Rights. - Sec. 768. (1) The corporation may restrict the transfer of...
Section 450.1768a - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to referees.
Section 450.1769 - Payment by Corporation to Dissenter; Accompanying Documents. - Sec. 769. (1) Except as provided in section 771, within...
Section 450.1770 - Return of Deposited Certificates and Release of Transfer Restrictions; Effect of Corporation Taking Proposed Action. - Sec. 770. (1) If the corporation does not take the...
Section 450.1771 - Election to Withhold Payment From Dissenter; Offer to Pay Estimated Fair Value of Shares, Plus Accrued Interest; Statements; Explanation. - Sec. 771. (1) A corporation may elect to withhold payment...
Section 450.1772 - Demand for Payment of Dissenter's Estimate or Rejection of Corporation's Offer and Demand for Payment of Fair Value and Interest Due; Waiver. - Sec. 772. (1) A dissenter may notify the corporation in...
Section 450.1773 - Petitioning Court to Determine Fair Value of Shares and Accrued Interest; Failure of Corporation to Commence Proceeding; Venue; Parties; Service; Jurisdiction; Appraisers; Discovery Rights; Judgment. - Sec. 773. (1) If a demand for payment under section...
Section 450.1773a - Referee; Appointment; Powers; Compensation; Duties; Objections to Report; Application to Court for Action; Adoption, Modification, or Recommitment of Report; Further Evidence; Judgment; Review. - Sec. 773a. (1) In a proceeding brought pursuant to section...
Section 450.1774 - Costs of Appraisal Proceeding. - Sec. 774. (1) The court in an appraisal proceeding commenced...
284-1972-7A - Chapter 7a (450.1775...450.1784)
Section 450.1775 - Meanings of Words and Phrases; Inconsistent Provisions. - Sec. 775. (1) For purposes of this chapter, the words...
Section 450.1776 - Definitions; A, B. - Sec. 776. (1) "Affiliate" or "affiliated person" means a person...
Section 450.1777 - Definitions; C, D. - Sec. 777. (1) "Common stock" means any stock other than...
Section 450.1778 - Definitions; E to S. - Sec. 778. (1) "Equity security" means any 1 of the...
Section 450.1779 - Definitions; V. - Sec. 779. (1) "Valuation date" means: (a) In a business...
Section 450.1780 - Advisory Statement and Approval. - Sec. 780. In addition to any vote otherwise required by...
Section 450.1781 - Conditions for Inapplicability of Vote to Business Combination; Inapplicability of Certain Provisions. - Sec. 781. (1) The vote required by section 780 shall...
Section 450.1782 - Applicability of MCL 450.1780; Resolution. - Sec. 782. (1) Whether or not a business combination is...
Section 450.1783 - Applicability of MCL 450.1780; Interested Shareholder; Resolution; Election. - Sec. 783. (1) Unless the articles or bylaws of a...
Section 450.1784 - Business Corporations Exempt From Requirements of MCL 450.1780. - Sec. 784. Unless a corporation's articles of incorporation provide otherwise,...
284-1972-7B - Chapter 7b Control Share Acquisitions (450.1790...450.1799) -
284-1972-8 - Chapter 8 Dissolution (450.1801...450.1864)
Section 450.1801 - Methods of Dissolution. - Sec. 801. (1) A corporation may be dissolved in any...
Section 450.1803 - Conditions to Dissolution by Incorporators or Directors; Certificate of Dissolution. - Sec. 803. (1) A corporation may be dissolved by action...
Section 450.1804 - Dissolution by Action of Board and Shareholders; Certificate of Dissolution. - Sec. 804. (1) A corporation may be dissolved by action...
Section 450.1805 - Dissolution; Execution and Filing Certificate. - Sec. 805. Dissolution pursuant to an agreement under section 488...
Section 450.1806 - Certificate of Dissolution; Filing; Time of Effectiveness; Conditions; Date Stamp as Evidence. - Sec. 806. (1) A certificate of dissolution filed with the...
Section 450.1811 - Revocation of Dissolution Proceedings; Certificate of Revocations. - Sec. 811. (1) Dissolution proceedings commenced pursuant to section 488...
Section 450.1815 - Renewal of Corporate Existence; Manner. - Sec. 815. A corporation whose term has expired may renew...
Section 450.1817 - Effective Date of Revocation of Dissolution or Renewal of Corporate Existence; Accrued Penalty or Liability Unaffected; Adoption of Corporate Name; Rights of Corporation. - Sec. 817. (1) When the certificate of revocation of dissolution...
Section 450.1821 - Action by Attorney General for Dissolution; Grounds. - Sec. 821. (1) The attorney general may bring an action...
Section 450.1823 - Action by Director or Shareholder for Dissolution; Judgment; Proof. - Sec. 823. A corporation may be dissolved by a judgment...
Section 450.1825 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to action by shareholder...
Section 450.1831 - Occurrences Dissolving Corporation. - Sec. 831. A corporation is dissolved when any of the...
Section 450.1833 - Corporate Existence Continued for Purpose of Winding Up Affairs. - Sec. 833. Except as a court may otherwise direct, a...
Section 450.1834 - Functions of Dissolved Corporation and Its Officers, Directors, and Shareholders Continued. - Sec. 834. Subject to section 833 and except as otherwise...
Section 450.1841 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to notice to creditors...
Section 450.1841a - Notice to Existing Claimants of Dissolution; Contents; Notice as Recognition of Validity of Claim; Conditions Barring Claim; “Existing Claim” Defined; Effective Date of Notice. - Sec. 841a. (1) The dissolved corporation may notify its existing...
Section 450.1842 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to notice to creditors...
Section 450.1842a - Publication of Notice of Dissolution; Requirements; Claimants Commencing Proceedings Within 1 Year of Notice. - Sec. 842a. (1) A dissolved corporation may also publish notice...
Section 450.1843 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to rejection of creditor's...
Section 450.1851 - Judicial Supervision of Corporate Affairs and Liquidation of Assets; Permitting Creditor to File Claim or Commence Proceeding. - Sec. 851. (1) After a corporation has been dissolved in...
Section 450.1855 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to distribution of assets...
Section 450.1855a - Provision for Debts, Obligations, and Liabilities; Distribution of Remaining Assets. - Sec. 855a. Before making a distribution of assets to shareholders...
Section 450.1861 - Implementation of Judicially Confirmed Plan of Reorganization. - Sec. 861. A corporation for which a plan of reorganization...
Section 450.1862 - Powers of Corporation Under Judicially Confirmed Plan of Reorganization. - Sec. 862. (1) The corporation, in the manner provided in...
Section 450.1863 - Certificate or Document Filed or Recorded Pursuant to Plan of Reorganization. - Sec. 863. A certificate or other document required or permitted...
Section 450.1864 - Additional Certificate or Document Filed to Conform to Plan of Reorganization as Finally Confirmed; Effect of Filing; Fees. - Sec. 864. (1) If after the filing of a certificate...
284-1972-9 - Chapter 9 Reports (450.1901...450.1935)
Section 450.1901 - Financial Report. - Sec. 901. (1) Each domestic corporation at least once in...
Section 450.1911 - Annual Report; Filing Date; Contents; Exception; Information Unchanged. - Sec. 911. (1) A domestic corporation and each foreign corporation...
Section 450.1913 - Destruction or Disposition of Corporate Documents by County Clerk. - Sec. 913. The county clerk may destroy the copies of...
Section 450.1915 - Repealed. 2003, Act 106, Imd. Eff. July 24, 2003. - Compiler's Notes: The repealed section pertained to annual report and...
Section 450.1921 - Neglecting or Refusing to File Report or Pay Fee; Penalty; Exception; Waiver. - Sec. 921. (1) If a domestic or foreign corporation neglects...
Section 450.1922 - Dissolution of Corporation or Revocation of Certificate of Authority for Neglecting or Refusing to File Reports or Pay Fee or Penalty; Notice of Impending Dissolution; Right to Certificate of Good Standing. - Sec. 922. (1) If a domestic corporation neglects or refuses...
Section 450.1923 - Extension of Time for Filing Report; Report to Attorney General; Action for Imposition of Penalties; Notice of Failure to File Report. - Sec. 923. (1) If good cause is shown, the administrator...
Section 450.1924 - Annual Reports Due or Deficient; Penalties and Interest. - Sec. 924. Annual reports due or deficient prior to the...
Section 450.1925 - Renewal of Corporate Existence or Certificate of Authority by Filing Reports and Paying Fees and Penalties; Adoption of Corporate Name; Effect of Compliance. - Sec. 925. (1) A domestic corporation which has been dissolved...
Section 450.1931 - Wilful False Statement in Report; Penalty. - Sec. 931. If a domestic or foreign corporation which is...
Section 450.1932 - False or Fraudulent Report, Certificate, or Statement; Falsification or Alteration of Books, Records, or Accounts; Penalties. - Sec. 932. (1) A person who knowingly makes or files...
Section 450.1935 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to liability to creditor...
284-1972-10 - Chapter 10 Foreign Corporations (450.2001...450.2099)
Section 450.2001 - Foreign Corporation Transacting Business in State on Effective Date of Act. - Sec. 1001. A foreign corporation which is authorized to transact...
Section 450.2002 - Foreign Corporation With Certificate of Authority. - Sec. 1002. (1) A foreign corporation that receives a certificate...
Section 450.2003 - Foreign Corporation Without Certificate of Authority. - Sec. 1003. A foreign corporation which transacts business in this...
Section 450.2011 - Certificate of Authority as Prerequisite to Transacting Business; Scope of Authority. - Sec. 1011. A foreign corporation shall not transact business in...
Section 450.2012 - Activities Not Constituting Transaction of Business; Applicability of Section. - Sec. 1012. (1) Without excluding other activities which may not...
Section 450.2013 - Loans. - Sec. 1013. A foreign corporation may acquire or, through another...
Section 450.2014 - Applicability of MCL 450.2001 to 450.2055. - Sec. 1014. (1) Sections 1001 through 1055 shall apply to...
Section 450.2015 - Certificate of Authority to Transact Business; Application; Filing; Contents. - Sec. 1015. To procure a certificate of authority to transact...
Section 450.2016 - Foreign Corporation; Application; Attaching Certificate of Good Standing; Fees; Issuance of Certificate of Authority; Duration of Authority. - Sec. 1016. (1) A certificate setting forth that the corporation...
Section 450.2021 - Foreign Corporation; Amended Application; Conditions; Contents; Corporation as Survivor of Merger or Conversion; Increase in Authorized Shares. - Sec. 1021. (1) Except as otherwise provided in this section,...
Section 450.2023 - Repealed. 1993, Act 91, Eff. Oct. 1, 1993. - Compiler's Notes: The repealed section pertained to increase by foreign...
Section 450.2031 - Application for Withdrawal From State. - Sec. 1031. A foreign corporation authorized to transact business in...
Section 450.2032 - Issuance and Effect of Certificate of Withdrawal. - Sec. 1032. Upon filing the application for withdrawal, and payment...
Section 450.2035 - Information Required to Be Filed on Dissolution, Termination, Merger, Conversion, or Consolidation; Assessment of Unpaid Fees; Certificate of Withdrawal; "Business Organization" Defined. - Sec. 1035. (1) If a foreign corporation authorized to transact...
Section 450.2041 - Certificate of Authority; Grounds for Revocation. - Sec. 1041. Subject to section 1042, in addition to any...
Section 450.2042 - Certificate of Authority; Revocation; Notice; Certificate of Revocation; Effect. - Sec. 1042. (1) The administrator shall revoke a certificate of...
Section 450.2051 - Action or Proceeding by or Against Foreign Corporation Without Certificate of Authority; Order of Dismissal; Recommencement of Action; Validity of Corporate Contracts or Acts. - Sec. 1051. (1) A foreign corporation transacting business in this...
Section 450.2055 - Penalty for Transacting Business Without Certificate of Authority. - Sec. 1055. In addition to any other liability imposed by...
Section 450.2056 - Registration of Corporate Name by Foreign Corporation Not Authorized to Transact Business in State; Filing; Duration; Notice; Renewal. - Sec. 1056. (1) Any foreign corporation that is not authorized...
Section 450.2060 - Filing Fees. - Sec. 1060. (1) When delivering a document described in this...
Section 450.2061 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to franchise fee for...
Section 450.2062 - Organization and Admission Fee; Initial Admission Fee of Foreign Corporation for Profit and Foreign Regulated Investment Company; Fees for Increase in Authorized Shares; Additional Admission Fee; Determining Amount of Authorized Sh... - Sec. 1062. (1) A domestic corporation or cooperative association, organized...
Section 450.2063 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to valuation of shares...
Section 450.2064 - “Regulated Investment Company” Defined. - Sec. 1064. A regulated investment company, for purposes of this...
Section 450.2098 - Repeals. - Sec. 1098. The following acts and parts of acts are...
Section 450.2099 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to effective date of...
Act 162 of 1982 - Nonprofit Corporation Act (450.2101 - 450.3192)
162-1982-1 - Chapter 1 (450.2101...450.2151)
Section 450.2101 - Short Title. - Sec. 101. This act shall be known and may be...
Section 450.2103 - Construction and Application of Act. - Sec. 103. This act shall be liberally construed and applied...
Section 450.2104 - Definitions Generally. - Sec. 104. The definitions contained in sections 105 to 110...
Section 450.2105 - Definitions; A, B. - Sec. 105. (1) "Administrator" means the director of the department...
Section 450.2106 - Definitions; C to E. - Sec. 106. (1) "Charitable purpose corporation" means a domestic corporation...
Section 450.2107 - Definitions; F. - Sec. 107. (1) "Foreign business corporation" means a corporation for...
Section 450.2108 - Definitions; M to P. - Sec. 108. (1) "Member" means a person that has a...
Section 450.2109 - Definitions; S. - Sec. 109. (1) "Shareholder" means a person that holds shares...
Section 450.2110 - Definitions; V. - Sec. 110. (1) "Volunteer" means an individual who performs services...
Section 450.2121 - Corporations to Which Act Applicable; Corporation Formed Under Predecessor Act. - Sec. 121. (1) Except as otherwise provided in this act...
Section 450.2122 - Statutory Reference to Repealed Act as Reference to This Act; Statutes Inapplicable to Domestic Corporation; Uniform Voidable Transactions Act Inapplicable to Distributions. - Sec. 122. (1) A reference in any statute of this...
Section 450.2123 - Applicability to Corporation Formed Under Other Act Not Repealed by This Act; Organizations to Which Act Inapplicable. - Sec. 123. (1) Subject to subsection (3), unless otherwise provided...
Section 450.2124 - Requirements of Other Acts Not Modified; Compliance; Inconsistency Between Acts. - Sec. 124. (1) This act does not modify the requirements...