Michigan Compiled Laws
Chapter 450 - Corporations
Act 162 of 1982 - Nonprofit Corporation Act (450.2101 - 450.3192)

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Section 450.2122 - Statutory Reference to Repealed Act as Reference to This Act; Statutes Inapplicable to Domestic Corporation; Uniform Voidable Transactions Act Inapplicable to Distributions.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Section 450.2123 - Applicability to Corporation Formed Under Other Act Not Repealed by This Act; Organizations to Which Act Inapplicable.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...

Section 450.2125 - Applicability to Commerce With Foreign Nations and Among Several States, and to Corporations Formed by Act of Congress. - Sec. 125. This act applies to commerce with foreign nations...

Section 450.2127 - Effect of Act on Existing Corporation, Cause of Action, Liability, Penalty, Action, or Special Proceeding. - Sec. 127. (1) Except as provided in section 261(3), this...

Section 450.2129 - Supplementation, Alteration, Amendment, or Repeal of Act by Legislature. - Sec. 129. This act may be supplemented, altered, amended, or...

Section 450.2131 - Submission of Documents; Delivery; Endorsement; Indexing; Returning Copy or Original; Public Inspection; Maintenance of Records and Files; Reproductions; Effective Date of Document; Fees. - Sec. 131. (1) A document required or permitted to be...

Section 450.2132 - English Language; Signatures; Contents of Documents. - Sec. 132. (1) A document filed with the administrator shall...

Section 450.2133 - Correction of Document; Certificate; Effective Date of Corrected Document. - Sec. 133. If a document relating to a domestic or...

Section 450.2141 - Taking Action Without Notice and Without Lapse of Prescribed Period of Time; Waiver. - Sec. 141. If, under this act or the articles of...

Section 450.2142 - Dispensing With Notice or Communication to Person With Whom Communication Unlawful; Affidavit, Certificate, or Other Instrument. - Sec. 142. When a notice or communication is required to...

Section 450.2143 - Giving Notice or Communication by Mail; Electronic Transmission as Written Notice; Delivery of Notice or Documents to Common Address; Delivery of Notice to Resident Agent; "Address" Defined. - Sec. 143. (1) If a notice or communication is required...

Section 450.2151 - Failure of Administrator to File Document Promptly; Notice of Failure to File; Posting Notice on Website or Sending by Mail or Electronic Mail Address; Refusal or Revocation of Authorization of Foreign Corporation to Conduct Affair... - Sec. 151. (1) If the administrator fails to promptly file...

162-1982-2 - Chapter 2 (450.2201...450.2275)

Section 450.2201 - Incorporators; Signing and Filing Articles of Incorporation. - Sec. 201. (1) One or more persons may be the...

Section 450.2202 - Articles of Incorporation; Contents. - Sec. 202. The articles of incorporation shall contain all of...

Section 450.2204 - Articles of Incorporation; Provision Pertaining to Proposed Compromise or Arrangement or Reorganization Between Corporation and Creditors or Shareholders. - Sec. 204. The articles of incorporation may contain the following...

Section 450.2205 - Articles of Incorporation; Including Provision of MCL 450.2204; Effect on Creditors, Shareholders, or Members of Corporation; Administration and Enforcement of Provision by Circuit Court; Restraining Actions and Proceedings Against... - Sec. 205. (1) When the provision of section 204 is...

Section 450.2209 - Articles of Incorporation; Additional Provisions; Liability of Director or Volunteer Officer. - Sec. 209. (1) The articles of incorporation may contain any...

Section 450.2212 - Corporate Name. - Sec. 212. (1) The corporate name of a domestic or...

Section 450.2213 - Assuming Name That Implies Corporation Is Banking Corporation, Insurance or Surety Company, or Trust Company Prohibited. - Sec. 213. A corporation formed or existing under or subject...

Section 450.2215 - Reservation of Right to Use Corporate Name; Application; Duration; Expiration; Transfer of Right to Exclusive Use of Reserved Corporate Name. - Sec. 215. (1) A person may reserve the right to...

Section 450.2217 - Conduct of Affairs Under Assumed Name or Names Other Than Corporate Name; Certificate of Assumed Name; Duration; Extensions; Notification of Impending Expiration; Enterprises Participating Together in Partnership or Joint Venture;... - Sec. 217. (1) Except as provided in section 212 or...

Section 450.2221 - Corporate Existence to Begin on Effective Date of Articles of Incorporation; Filing as Conclusive Evidence That Conditions Precedent Fulfilled and Corporation Formed; Exception. - Sec. 221. The corporate existence of a corporation begins on...

Section 450.2223 - Selection of Board and Adoption of Bylaws; First Meeting; Notice; Quorum; Transaction of Business. - Sec. 223. Before or after filing of the articles of...

Section 450.2231 - Bylaws; Adoption; Amendment or Repeal; Contents. - Sec. 231. (1) Except if the power to adopt, amend,...

Section 450.2241 - Registered Office; Resident Agent. - Sec. 241. Each domestic corporation and each foreign corporation authorized...

Section 450.2242 - Change of Registered Office or Resident Agent; Statement. - Sec. 242. (1) A domestic corporation or a foreign corporation...

Section 450.2243 - Resident Agent; Resignation; Notice; Appointment of Successor; Termination of Appointment of Resigning Resident Agent; Registered Office of Corporation. - Sec. 243. A resident agent of a domestic or foreign...

Section 450.2246 - Resident Agent; Service of Process, Notice, or Demand; Resident Agent as Agent of Director or Officer in Certain Action; Forwarding Process to Director or Officer; Electronic Transmission of Notice. - Sec. 246. (1) The resident agent appointed by a corporation...

Section 450.2251 - Corporate Purposes; Conduct of Lawful Activities During War or National Emergency. - Sec. 251. (1) A corporation may be formed under this...

Section 450.2261 - Corporate Powers; Inconsistency Between Certain Acts; Corporate Existence in Perpetuity; Fixed Limitation or Term; Waiver of Right to Perpetual Existence; Nonprofit Power Corporation; Public School Academy; Providing Services in Le... - Sec. 261. (1) A corporation, subject to any limitation provided...

Section 450.2262 - Existing Incorporated Association or Society Operating as Corporation Subject to Act; Payment of Death or Sick Benefits; Reserves; Rules; Investment of Funds Securing Reserves; Statement Required of Evidence of Obligation to Pay De... - Sec. 262. (1) An association or society, not otherwise provided...

Section 450.2271 - Act of Corporation and Transfer of Property to or by Corporation Not Invalid Where Corporation Without Capacity or Power; Assertion of Lack of Capacity or Power. - Sec. 271. An act of a corporation and a transfer...

Section 450.2275 - Agreement to Pay Rate of Interest in Excess of Legal Rate; Defense of Usury Prohibited. - Sec. 275. A domestic corporation or foreign corporation, whether or...

162-1982-3 - Chapter 3 (450.2301...450.2392)

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...

162-1982-4 - Chapter 4 (450.2401...450.2497)

Section 450.2401 - Meetings of Shareholders or Members; Location. - Sec. 401. Meetings of shareholders or members may be held...

Section 450.2402 - Annual Meeting of Shareholders or Members for Election of Directors and Conduct Other Business; Failure to Hold Meeting at Designated Time or Elect Sufficient Number of Directors; Adjournment of Meeting; Court Order to Hold Meeting... - Sec. 402. A corporation shall hold an annual meeting of...

Section 450.2403 - Special Meeting of Shareholders or Members; Court Order; Quorum. - Sec. 403. The board may call a special meeting of...

Section 450.2404 - Notice of Time, Place, and Purposes of Meeting of Shareholders or Members; Manner; Contents; Notice of Adjourned Meeting; Notice Not Given; Attendance at Meeting; Participating and Voting by Remote Communication; Meeting Without No... - Sec. 404. (1) Except as otherwise provided in this act,...

Section 450.2405 - Shareholder, Member, or Proxy Holder Participation in Meeting by Conference Telephone or Other Means of Remote Communication; Conditions; Participation as Presence in Person at Meeting; Participating and Voting by Remote Communicat... - Sec. 405. (1) Unless otherwise restricted by the articles of...

Section 450.2406 - Chairperson Presiding at Meeting of Shareholders or Members; Powers, Duties, and Authority. - Sec. 406. (1) At each meeting of shareholders or members,...

Section 450.2406a - Notice by Electronic Transmission. - Sec. 406a. In addition to any other form of notice...

Section 450.2407 - Taking Corporate Action Without Meeting; Consent; Notice; Statement on Filed Certificate; Consent by Electronic Transmission; Delivery. - Sec. 407. (1) The articles of incorporation may provide that...

Section 450.2408 - Taking Corporate Action Without Meeting; Shareholder or Member Action by Ballot; Requirements; Revocation of Ballot; Inclusion of Proposed Action in Ballot; Statement of Certificate. - Sec. 408. (1) A corporation may provide in its articles...

Section 450.2409 - Taking Corporate Action Without Meeting; Voting by Shareholder or Member at Polling Place; Accessibility; Requirements; Revocation of Ballot; Inclusion of Proposed Action in Ballot; Statement on Certificate. - Sec. 409. (1) A corporation may provide in its articles...

Section 450.2411 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to fixing record date...

Section 450.2412 - Record Date. - Sec. 412. (1) Except as provided in this subsection, for...

Section 450.2413 - Making and Certifying List of Shareholders or Members Entitled to Vote at Meeting or Adjournment; Requirements; Noncompliance; Adjournment of Meeting; Validity of Action Taken. - Sec. 413. (1) The officer or agent responsible for the...

Section 450.2415 - Quorum; Continuing Conduct of Business if Less Than Quorum; Adjournment of Meeting; Shareholders Entitled to Vote Separately. - Sec. 415. (1) Unless a greater or lesser quorum is...

Section 450.2421 - Authorizing Person to Act for Shareholder or Member by Proxy; Election of Directors by Proxy; Validity; Revocability; Methods of Granting Authority; Use of Copy, Facsimile, or Reproduction. - Sec. 421. (1) Except as otherwise provided by statute, in...

Section 450.2422 - Irrevocable Proxy. - Sec. 422. A proxy that is entitled "irrevocable proxy", and...

Section 450.2423 - Revocability of Proxy. - Sec. 423. (1) A proxy described in section 422 becomes...

Section 450.2431 - Inspectors at Shareholders' or Members' Meeting; Waiver; Appointment and Duties; Failure to Appoint; Vacancy; Report; Evidence. - Sec. 431. (1) If the bylaws require inspectors at a...

Section 450.2432 - Beneficial Owner of Shares or Memberships Registered in Name of Nominee; Recognition by Corporation as Shareholder or Member; Procedure. - Sec. 432. (1) A corporation may establish a procedure under...

Section 450.2441 - Voting Generally. - Sec. 441. (1) Each outstanding share or member is entitled...

Section 450.2442 - Voting as Class. - Sec. 442. (1) The articles of incorporation or bylaws may...

Section 450.2443 - Grouping of Members in Local Units; Basis; Purpose; Actions Authorized by Bylaws; Incorporation and Powers of Local Units; Powers, Rights, and Privileges of Elected Representatives or Delegates. - Sec. 443. (1) The articles of incorporation or bylaws adopted...

Section 450.2444 - Voting by Corporation or Business Corporation; Voting of Pledged Shares. - Sec. 444. (1) Shares or memberships that are held by...

Section 450.2445 - Voting of Shares or Membership Held by Person in Representative or Fiduciary Capacity or Held Jointly by Fiduciaries. - Sec. 445. (1) The vote of shares or a membership...

Section 450.2446 - Voting of Shares or Membership Held by Joint Tenants or Tenants in Common. - Sec. 446. Shares or a membership that are held by...

Section 450.2447 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to prohibition against voting...

Section 450.2447a - Voting of Shares or Memberships if Owned by Another Corporation or Business Corporation. - Sec. 447a. Unless specifically otherwise provided in the articles of...

Section 450.2448 - Redemption of Shares; Voting. - Sec. 448. After written notice of redemption of redeemable shares...

Section 450.2451 - Voting for Directors. - Sec. 451. (1) The articles of incorporation of a corporation...

Section 450.2455 - Action Requiring Vote or Concurrence of Greater Proportion of Shares, Members, or Class Than Required by Act; Amendment of Articles of Incorporation. - Sec. 455. With respect to an action to be taken...

Section 450.2461 - Agreement as to Voting Rights. - Sec. 461. An agreement between 2 or more shareholders or...

Section 450.2466 - Transfer of Shares or Membership to Trustee; Filing of Voting Rights Agreement; Voting and Other Rights of Trustee; Inspection of Filed Copy of Voting Trust Agreement; Description of Beneficial Interests. - Sec. 466. (1) If shares or memberships of a corporation...

Section 450.2467 - Shares or Memberships Subject to Voting Trust; Liability of Trustee; Designation of 2 or More Persons as Voting Trustees. - Sec. 467. (1) A trustee that votes shares or memberships...

Section 450.2468 - Extension of Voting Trust Agreement. - Sec. 468. (1) At any time within the 12-month period...

Section 450.2471 - Shares as Personal Property; Transfer; Applicability of MCL 440.8101 to 440.8601. - Sec. 471. The shares of a corporation are personal property....

Section 450.2472 - Transfer or Registration of Bond, Share, or Membership; Written Restriction. - Sec. 472. (1) The articles of incorporation, the bylaws, or...

Section 450.2473 - Transfer or Registration of Bond, Share, or Membership; Imposition of Restrictions; Conditions. - Sec. 473. Without limiting the general authority under section 472(1)...

Section 450.2481 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to issuing or delivering...

Section 450.2485 - Books, Records, and Minutes. - Sec. 485. A corporation shall keep books and records of...

Section 450.2487 - Mailing Balance Sheet and Statements to Shareholder or Member Upon Request; Inspection During Regular Business Hours; Written Demand; "Proper Purpose" Defined; Order Compelling Inspection; Burden of Proof; Powers of Court; Inspecti... - Sec. 487. (1) If requested in writing by a shareholder...

Section 450.2488 - Agreement Among Members of Corporation. - Sec. 488. (1) Subject to subsection (11), an agreement among...

Section 450.2489 - Court Action That Certain Acts Illegal, Fraudulent, or Willfully Unfair and Oppressive; Order or Relief; "Willfully Unfair and Oppressive Conduct" Defined. - Sec. 489. (1) A director of a corporation that is...

Section 450.2491 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to action by shareholder...

Section 450.2491a - Definitions. - Sec. 491a. As used in this section and sections 492a...

Section 450.2492 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to discontinuing, compromising, or...

Section 450.2492a - Derivate Proceeding; Criteria to Be Met by Shareholder or Member. - Sec. 492a. A shareholder or member may not commence or...

Section 450.2493 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to award of expenses...

Section 450.2493a - Derivative Proceeding; Commencement. - Sec. 493a. A shareholder, member, or director may not commence...

Section 450.2494 - Derivative Proceeding; Investigation; Issuance of Stay. - Sec. 494. If the corporation commences an investigation of the...

Section 450.2495 - Derivative Proceeding; Dismissal. - Sec. 495. (1) On a motion by the corporation in...

Section 450.2496 - Derivative Proceeding; Discontinuance or Settlement; Court Approval Required. - Sec. 496. A derivative proceeding shall not be discontinued or...

Section 450.2497 - Derivative Proceeding; Termination. - Sec. 497. If a derivative proceeding is terminated, the court...

162-1982-5 - Chapter 5 (450.2501...450.2571)

Section 450.2501 - Board of Directors; Management of Business and Affairs of Corporation; Qualifications; Powers. - Sec. 501. (1) The business and affairs of a corporation...

Section 450.2501a - Board of Directors; Minimum Age; Requirements. - Sec. 501a. (1) A corporation organized for purposes described in...

Section 450.2505 - Board; Number, Term, Election or Appointment, and Resignation of Directors. - Sec. 505. (1) The bylaws shall fix the number of...

Section 450.2506 - Dividing Directors Up to 5 Classes; Election or Appointment; Term; Expiration. - Sec. 506. (1) The articles of incorporation or a bylaw...

Section 450.2511 - Removal of Director; Vote. - Sec. 511. (1) The shareholders or members of a corporation...

Section 450.2514 - Removal of Director by Circuit Court. - Sec. 514. (1) The circuit court for the county in...

Section 450.2515 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to filling of vacancies...

Section 450.2515a - Vacancy. - Sec. 515a. (1) Unless otherwise limited in the articles of...

Section 450.2521 - Regular or Special Meetings of Board; Location; Notice; Attendance or Participation as Waiver of Notice; Participation by Means of Conference Telephone or Other Remote Communication. - Sec. 521. (1) A board may hold regular or special...

Section 450.2523 - Quorum; Vote Constituting Action of Board or Committee; Amendment of Bylaws. - Sec. 523. (1) A majority of the members of a...

Section 450.2525 - Taking Action Without Meeting; Consent. - Sec. 525. Unless prohibited by the articles of incorporation or...

Section 450.2527 - Designation of Committees; Membership; Alternates; Absent or Disqualified Member; Providing for Election or Appointment of Committees in Articles or Bylaws. - Sec. 527. (1) Unless otherwise provided in the articles of...

Section 450.2528 - Executive Committee Designated Under MCL 450.2527(1) or (3); Powers and Authority; Subcommittees. - Sec. 528. (1) An executive committee that is designated under...

Section 450.2529 - Submitting Matter to Vote. - Sec. 529. A corporation may agree to submit a matter...

Section 450.2531 - Officers of Corporation; Membership; Election or Appointment; Individual Holding 2 or More Offices; Term of Office; Authority and Duties. - Sec. 531. (1) The officers of a corporation shall consist...

Section 450.2535 - Removal of Officer; Suspension of Authority to Act; Contract Rights; Resignation of Officer; Notice. - Sec. 535. (1) An officer elected or appointed by the...

Section 450.2541 - Director or Officer; Discharge of Duties; Manner; Reliance on Certain Information; Compliance; Liability; Claim for Monetary Damages for Breach of Volunteer Director's Duty; Commencement of Action. - Sec. 541. (1) A director or officer shall discharge his...

Section 450.2545 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to transaction between corporation...

Section 450.2545a - Transaction in Which Director or Officer Has Interest. - Sec. 545a. (1) A transaction in which a director or...

Section 450.2546 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to establishing validity of...

Section 450.2548 - Loan, Guaranty, or Assistance by Corporation for Officer or Employee. - Sec. 548. (1) Unless otherwise prohibited by law or prohibited...

Section 450.2551 - Liability of Directors for Certain Corporate Actions; Liability of Shareholder or Member Accepting or Receiving Distribution Contrary to Act. - Sec. 551. (1) Directors who vote for or concur in...

Section 450.2552 - Rights of Director Against Whom Claim Successfully Asserted Under MCL 450.2551. - Sec. 552. (1) A director against whom a claim is...

Section 450.2553 - Presence or Absence of Director at Meeting at Which Action Under MCL 450.2551 Taken; Presumption; Dissent. - Sec. 553. (1) If a director is present at a...

Section 450.2554 - Commencement of Action Under MCL 450.2551 or 450.2552. - Sec. 554. An action against a director, shareholder, or member...

Section 450.2556 - Volunteer's Acts or Omissions; Claim for Monetary Damages. - Sec. 556. If the corporation's articles of incorporation contain a...

Section 450.2561 - Indemnification of Director, Officer, Partner, Trustee, Employee, Nondirector Volunteer, or Agent in Connection With Action, Suit, or Proceeding; Conditions; Presumption. - Sec. 561. Unless otherwise provided by law or the articles...

Section 450.2562 - Indemnification Against Expenses of Director, Officer, Partner, Trustee, Employee, Nondirector Volunteer, or Agent in Connection With Action or Suit by or in Right of Corporation; Conditions; Limitations. - Sec. 562. Unless otherwise provided by law or in the...

Section 450.2563 - Indemnification for Expenses of Director, Officer, or Nondirector Volunteer Successful in Defense of Action, Suit, or Proceeding Referred to in MCL 450.2561 or 450.2562. - Sec. 563. Unless otherwise provided by law or under the...

Section 450.2564 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to advance payment by...

Section 450.2564a - Indemnification of Director, Officer, Employee, Nondirector Volunteer, or Agent Under MCL 450.2561 or 450.2562; Authorization; Basis; Determination; Evaluation; Designation of Committee or Selection of Legal Counsel; Indemnificati... - Sec. 564a. (1) Except as otherwise provided in subsection (5),...

Section 450.2564b - Expenses Incurred by Director, Officer, Employee, Nondirector Volunteer, or Agent; Reimbursement; Agreement; Advances. - Sec. 564b. (1) A corporation may pay or reimburse the...

Section 450.2564c - Indemnification of Director, Officer, Employee, Nondirector Volunteer, or Agent; Application to Court; Determination. - Sec. 564c. A director, officer, employee, nondirector volunteer, or agent...

Section 450.2565 - Indemnification or Advance of Expenses Not Exclusive of Other Rights; Limitation; Continuation; Amended Provision. - Sec. 565. (1) An indemnification or advance of expenses provided...

Section 450.2567 - Purchase and Maintenance of Insurance on Behalf of Director, Officer, Employee, Nondirector Volunteer, or Agent. - Sec. 567. (1) A corporation may purchase and maintain insurance...

Section 450.2569 - Scope of "Corporation" for Purposes of MCL 450.2561 to 450.2567. - Sec. 569. For purposes of sections 561 to 567, "corporation"...

Section 450.2571 - Definitions. - Sec. 571. As used in sections 561 to 567: (a)...

162-1982-6 - Chapter 6 (450.2601...450.2651)

Section 450.2601 - Amendment of Articles of Incorporation; Contents. - Sec. 601. (1) A corporation may amend its articles of...

Section 450.2602 - Amendment of Articles of Incorporation; Purposes. - Sec. 602. Without limiting the general power of amendment under...

Section 450.2611 - Amendment of Articles by Incorporation; Amendment Without Shareholder or Member Action; Manner of Adoption; Notice of Meeting; Vote on Proposed Amendment; Requirements; Adoption; Number of Amendments Acted Upon at 1 Meeting; Certif... - Sec. 611. (1) The articles of incorporation may be amended...

Section 450.2615 - Voting as Class on Proposed Amendment. - Sec. 615. (1) The holders of a class of outstanding...

Section 450.2631 - Certificate of Amendment; Signing and Execution; Filing; Contents. - Sec. 631. (1) If an amendment to the articles of...

Section 450.2641 - Integrating Provisions of Articles Into Single Instrument; Adoption of Restated Articles of Incorporation; Adoption Before First Meeting; Amendments Subject to Other Provisions of Act. - Sec. 641. (1) A corporation may integrate into a single...

Section 450.2642 - Restated Articles of Incorporation; Heading or Introductory Paragraph; Designation; Required Statements; Omitted Provisions. - Sec. 642. (1) The heading of restated articles of incorporation...

Section 450.2643 - Restated Articles of Incorporation; Signing, Filing, and Executing; Effect. - Sec. 643. (1) A majority of incorporators shall sign and...

Section 450.2651 - Abandonment of Amendment; Certificate. - Sec. 651. Before the effective date of an amendment to...

162-1982-7 - Chapter 7 (450.2701...450.2754)

Section 450.2701 - Merger of Domestic Corporations; Plan; Contents; Distributions. - Sec. 701. (1) Two or more domestic corporations may merge...

Section 450.2703 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015 - Compiler's Notes: The repealed section pertained to approval or authorization...

Section 450.2703a - Plan of Merger; Approval. - Sec. 703a. (1) Except as provided in subsection (2)(e) and...

Section 450.2706 - Merger of Domestic Corporation With Domestic or Foreign Corporation; Conditions; Consent; Execution of Certificate of Merger; Participation of Other Corporations. - Sec. 706. (1) If a domestic corporation has not commenced...

Section 450.2707 - Certificate of Merger; Signing and Filing; Contents; Determining Effectiveness. - Sec. 707. (1) After a plan of merger is approved...

Section 450.2711 - Merger of Domestic Corporation With Subsidiary Corporation; Approval of Plan of Merger; Mailing Copy of Plan to Minority Shareholder or Member of Record; Other Provisions; Definitions. - Sec. 711. (1) A domestic corporation may merge 1 or...

Section 450.2712 - Certificate of Merger; Execution and Filing of Certificate of Merger by Parent Company; Determination of Effective Date. - Sec. 712. (1) After a plan of merger is adopted...

Section 450.2713 - Subsidiary Corporation as Constituent Corporation in Merger; Approval of Shareholders or Members. - Sec. 713. (1) A subsidiary corporation that is a constituent...

Section 450.2721 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to effect of merger...

Section 450.2722 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to rights, privileges, liabilities,...

Section 450.2723 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to changes in articles...

Section 450.2724 - Merger Other Than Under MCL 450.2736a. - Sec. 724. All of the following apply when a merger,...

Section 450.2731 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to merger or consolidation...

Section 450.2732 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to effect of merger...

Section 450.2735 - Merger of Domestic Business Corporation, Foreign Corporation, or Foreign Business Corporation With Domestic Corporation; Surviving Corporation; Compliance; Liability for Enforcement of Obligation; Acquisition of Shares or Membershi... - Sec. 735. (1) One or more domestic business corporations, foreign...

Section 450.2736 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to merger or consolidation...

Section 450.2736a - Merger of Domestic Corporations With Business Organizations; Requirements; Merger of Domestic Corporation With Domestic or Foreign Entity; Consent; Executing and Filing Certificate of Merger; Contents; Effect of Merger; Surviving... - Sec. 736a. (1) Except as provided in subsection (2) and...

Section 450.2737 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to effect of merger...

Section 450.2741 - Abandonment of Merger; Procedure; Certificate of Abandonment. - Sec. 741. At any time before the effective date of...

Section 450.2745 - Conversion of Domestic Corporation Into Business Organization; Requirements; Effect; Surviving Business Organization; Liability for Certain Obligation; Distributions; "Business Organization" and "Entity" Defined. - Sec. 745. (1) A domestic corporation may convert into a...

Section 450.2746 - Conversion of Business Organization Into Domestic Corporation; Requirements; Effectiveness of Certificate of Conversion; Surviving Domestic Corporation. - Sec. 746. (1) A business organization may convert into a...

Section 450.2751 - Actions by Corporation; Terms and Conditions; Consideration; "Consideration" Defined. - Sec. 751. (1) A corporation may take any of the...

Section 450.2753 - Disposition of Property and Assets of Corporation; Disposal of All or Substantially All of Property; Presumption That Corporation Retains Significant Continuing Business Activity; "Consideration" Defined; Recommendation of Proposed... - Sec. 753. (1) Except as provided in section 751, a...

Section 450.2754 - Merger or Acquisition Under MCL 2703a(2); Right of Shareholders or Members to Receive Notice and Vote. - Sec. 754. Shareholders or members of a corporation that proposes...

162-1982-8 - Chapter 8 (450.2801...450.2864)

Section 450.2801 - Dissolution of Corporation; Methods; Summary Dissolution of Corporation Whose Assets Disposed of Under Court Order in Receivership or Bankruptcy Proceedings; Filing Copy of Order With Administrator. - Sec. 801. (1) A corporation may be dissolved in any...

Section 450.2803 - Dissolution of Corporation by Action of Incorporators or Directors; Conditions; Certificate of Dissolution. - Sec. 803. (1) A corporation may be dissolved by action...

Section 450.2804 - Dissolution of Corporation by Action of Shareholders or Members; Recommendation; Exceptions; Approval or Authorization; Notice; Voting; Certificate. - Sec. 804. (1) A corporation may be dissolved by action...

Section 450.2805 - Dissolution Under Agreement Under MCL 450.2488; Effectiveness. - Sec. 805. Dissolution under an agreement under section 488 becomes...

Section 450.2811 - Revocation of Dissolution Proceedings; Filing and Execution of Certificate; Additional Manner of Revocation. - Sec. 811. (1) A corporation may revoke dissolution proceedings commenced...

Section 450.2815 - Renewal of Corporate Existence. - Sec. 815. A corporation whose term has expired may renew...

Section 450.2817 - Effect of Filing Certificate of Revocation of Dissolution or Renewal of Corporate Existence; Accrued Penalty or Liability; Adoption of Corporate Name; Rights. - Sec. 817. (1) When a certificate of revocation of dissolution...

Section 450.2821 - Action by Attorney General for Dissolution of Corporation; Grounds; Other Actions. - Sec. 821. (1) The attorney general may bring an action...

Section 450.2823 - Dissolution of Corporation by Judgment in Action Brought in Court; Proof; Action for Dissolution of Charitable Purpose Corporation. - Sec. 823. (1) A corporation that is organized on a...

Section 450.2825 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to adjudging dissolution and...

Section 450.2831 - Dissolution of Corporation; Conditions. - Sec. 831. A corporation is dissolved when any of the...

Section 450.2833 - Dissolved Corporation; Continuation of Corporate Existence; Conduct of Affairs. - Sec. 833. Except as a court may otherwise direct, a...

Section 450.2834 - Dissolved Corporation and Officers, Directors, Shareholders, and Members; Manner of Functioning. - Sec. 834. Subject to section 833 and except as otherwise...

Section 450.2841 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to notice to creditors.

Section 450.2841a - Written Notice to Claimants of Dissolved Corporation. - Sec. 841a. (1) A dissolved corporation may notify its existing...

Section 450.2842 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to mailing notice to...

Section 450.2842a - Publication of Notice of Dissolved Corporation. - Sec. 842a. (1) In addition to providing notice under section...

Section 450.2843 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to rejection of claim...

Section 450.2851 - Application for Judgment That Affairs of Corporation and Liquidation of Assets Continue Under Supervision of Court; Orders and Judgments; Permitting Creditor to File Claim or Commence Proceeding. - Sec. 851. (1) After a corporation is dissolved in any...

Section 450.2855 - Dissolution of Corporation; Applicable Provisions. - Sec. 855. (1) All of the following apply if a...

Section 450.2861 - Plan of Reorganization; Action by Directors, Shareholders, or Members Not Required to Put Plan Into Effect. - Sec. 861. A corporation for which a plan of reorganization...

Section 450.2862 - Powers of Corporation Under Reorganization; Issuing Shares of Capital Stock and Bonds for Consideration Specified in Plan of Reorganization. - Sec. 862. (1) The corporation, in the manner provided in...

Section 450.2863 - Document Filed or Recorded to Accomplish Corporate Purpose Pursuant to Plan of Reorganization; Making, Execution, and Acknowledgment; Contents; Filing. - Sec. 863. A certificate or other document required or permitted...

Section 450.2864 - Reversal or Vacation of Reorganization Plan; Filing of Other or Further Certificates or Documents; Effect; Fees. - Sec. 864. (1) If after the filing of a certificate...

162-1982-9 - Chapter 9 (450.2901...450.2935)

Section 450.2901 - Report of Domestic Corporation; Contents; Electronic Transmission; Distribution to Shareholder, Member, or Director. - Sec. 901. (1) A domestic corporation at least once in...

Section 450.2911 - Annual Report to Administrator; Filing; Contents. - Sec. 911. (1) Each domestic corporation and each foreign corporation...

Section 450.2913 - Destruction or Disposal of Certain Records. - Sec. 913. A county clerk may destroy the copies of...

Section 450.2915 - Repealed. 2003, Act 107, Imd. Eff. July 24, 2003. - Compiler's Notes: The repealed section pertained to report and fee.

Section 450.2922 - Failure of Domestic or Foreign Corporation to File Annual Report or Pay Filing Fee or Penalty; Automatic Dissolution or Revocation of Certificate of Authority; Dissolution of Charitable Purpose Corporation; Notice; Right to Certifi... - Sec. 922. (1) If a domestic corporation neglects or refuses...

Section 450.2923 - Extension of Time for Filing Report; Reporting Failure or Neglect Under MCL 450.2922, 450.2931, or 450.2932; Action by Attorney General; Notice; Electronic Transmission. - Sec. 923. (1) If good cause is shown, the administrator...

Section 450.2924 - Annual Reports Due or Deficient Prior to Date of Act; Penalties. - Sec. 924. Annual reports due or deficient prior to the...

Section 450.2925 - Renewal of Corporate Existence or Certificate of Authority Following Dissolution or Revocation. - Sec. 925. (1) A domestic corporation that is dissolved under...

Section 450.2931 - Wilful False Statement in Report; Additional Penalty. - Sec. 931. If a domestic or foreign corporation which is...

Section 450.2932 - Prohibited Conduct as Misdemeanor; Fine. - Sec. 932. (1) A person shall not knowingly make or...

Section 450.2935 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to authorizing, signing, or...

162-1982-10 - Chapter 10 (450.3001...450.3099)

Section 450.3001 - Foreign Corporation Authorized to Conduct Affairs in This State on January 1, 1983; Rights and Privileges; Duties, Restrictions, Penalties, and Liabilities. - Sec. 1001. A foreign corporation that was authorized to conduct...

Section 450.3002 - Foreign Corporation Receiving Certificate of Authority Under Act; Rights and Privileges; Duties, Restrictions, Penalties, and Liabilities. - Sec. 1002. (1) A foreign corporation that receives a certificate...

Section 450.3003 - Foreign Corporation Conducting Affairs Without Certificate of Authority; Duties, Restrictions, Penalties, and Liabilities. - Sec. 1003. A foreign corporation which conducts affairs in this...

Section 450.3011 - Foreign Corporation; Certificate of Authority Required; Extent of Authorization to Conduct Affairs in State. - Sec. 1011. A foreign corporation shall not conduct affairs in...

Section 450.3012 - Foreign Corporation Not Considered to Be Conducting Affairs in State; Activities; Applicability of Section. - Sec. 1012. (1) Without excluding other activities that may not...

Section 450.3013 - Acquisition of Federally Insured or Guaranteed Loan by Foreign Corporation. - Sec. 1013. (1) A foreign corporation may acquire, or through...

Section 450.3015 - Application of Foreign Corporation for Certificate of Authority to Conduct Affairs in State; Contents. - Sec. 1015. To procure a certificate of authority to conduct...

Section 450.3016 - Application of Foreign Corporation to Conduct Affairs in State; Certificate; Attachment; Fees; Issuance of Certificate; Duration of Authority. - Sec. 1016. (1) A foreign corporation shall attach a certificate...

Section 450.3021 - Foreign Corporation Authorized to Conduct Affairs in State; Filing With Administrator Copy of Amended Application; Contents; Survivor of Merger or Conversion. - Sec. 1021. (1) Except as otherwise provided in this section,...

Section 450.3031 - Foreign Corporation Authorized to Conduct Affairs in State; Withdrawal; Certificate; Application. - Sec. 1031. A foreign corporation authorized to conduct affairs in...

Section 450.3032 - Issuance of Certificate of Withdrawal to Foreign Corporation; Conditions; Effect. - Sec. 1032. If a foreign corporation files an application for...

Section 450.3035 - Foreign Corporation Authorized to Conduct Affairs in State; Dissolution; Termination or Cancellation of Authority or Existence; Merger, Conversion, or Consolidation; Filing Information, Certificate, Order, or Judgment With Administ... - Sec. 1035. (1) If a foreign corporation that is authorized...

Section 450.3041 - Revocation of Certificate of Authority of Foreign Corporation to Conduct Affairs in State; Grounds. - Sec. 1041. In addition to any other ground for revocation...

Section 450.3042 - Revocation of Certificate of Authority of Foreign Corporation to Conduct Affairs in State; Notice of Default; Certificate of Revocation; Force and Effect. - Sec. 1042. (1) The administrator shall revoke a certificate of...

Section 450.3051 - Action Commenced by Foreign Corporation Without Certificate of Authority Prohibited; Order of Dismissal; Effect of Failure to Obtain Certificate of Authority on Validity of Contract and Act of Corporation; Defense of Action or Proc... - Sec. 1051. (1) A foreign corporation that conducts affairs in...

Section 450.3055 - Foreign Corporation Conducting Affairs in State Without Certificate of Authority; Penalty. - Sec. 1055. In addition to any other liability imposed by...

Section 450.3060 - Fees; Payment; Certification of File or Record; Waiver; Form of Payment. - Sec. 1060. (1) When delivering a document described in this...

Section 450.3061 - Fee for Privilege of Exercising Franchises in State. - Sec. 1061. Every corporation organized or conducting affairs in this...

Section 450.3098 - Repeal of Acts and Parts of Acts. - Sec. 1098. The following acts and parts of acts are...

Section 450.3099 - Effective Date of Act. - Sec. 1099. This act shall take effect January 1, 1983....

162-1982-11 - Chapter 11 (450.3100...450.3192)

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...

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Michigan Compiled Laws Chapter 450 - Corporations Act 162 of 1982 - Nonprofit Corporation Act (450.2101 - 450.3192)

Michigan Compiled Laws
Chapter 450 - Corporations
Act 162 of 1982 - Nonprofit Corporation Act (450.2101 - 450.3192)