Sec. 741.
At any time before the effective date of a certificate of merger or share exchange, the merger or share exchange may be abandoned, subject to any contractual rights, without further shareholder action, in accordance with the procedure set forth in the plan of merger or share exchange or, if none is set forth, in the manner determined by the board. If a certificate of merger or share exchange has been filed by a corporation, it shall file a certificate of abandonment within 10 days after the abandonment, but not later than the proposed effective day.
History: 1972, Act 284, Eff. Jan. 1, 1973 ;-- Am. 1989, Act 121, Eff. Oct. 1, 1989 ;-- Am. 1993, Act 91, Eff. Oct. 1, 1993
Structure Michigan Compiled Laws
Act 284 of 1972 - Business Corporation Act (450.1101 - 450.2099)
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.
Section 450.1702 - Plan of Share Exchange; Approval; Contents; Power of Corporation Not Limited.
Section 450.1703 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1703a - Plan of Merger or Share Exchange; Approval; Definitions.
Section 450.1704 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1707 - Certificate of Merger or Share Exchange.
Section 450.1712 - Merger of Parent and Subsidiary Corporations; Certificate of Merger.
Section 450.1713 - Merger of Parent and Subsidiary Corporations; Approval of Shareholders.
Section 450.1721-450.1723 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1724 - Merger; Applicable Provisions; Share Exchange.
Section 450.1731-450.1734 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1736 - Merger of Domestic Corporation With Business Organization.
Section 450.1741 - Abandonment of Merger or Share Exchange.
Section 450.1746 - Conversion of Business Organization Into Domestic Corporation; Requirements.
Section 450.1751 - Disposition of Corporate Property and Assets; Approval by Shareholders.
Section 450.1754 - Rights of Shareholders.
Section 450.1761 - Definitions.
Section 450.1762 - Right of Shareholder to Dissent and Obtain Payment for Shares.
Section 450.1764 - Corporate Action Creating Dissenters' Rights; Vote of Shareholders; Notice.
Section 450.1765 - Notice of Intent to Demand Payment for Shares.
Section 450.1766 - Dissenters' Notice; Delivery to Shareholders; Contents.
Section 450.1768 - Restriction on Transfer of Shares Without Certificates; Retention of Rights.
Section 450.1768a - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1769 - Payment by Corporation to Dissenter; Accompanying Documents.