Sec. 768.
(1) The corporation may restrict the transfer of shares without certificates from the date the demand for their payment is received until the proposed corporate action is taken or the restrictions released under section 770.
(2) The person for whom dissenters' rights are asserted as to shares without certificates retains all other rights of a shareholder until these rights are canceled or modified by the taking of the proposed corporate action.
History: 1972, Act 284, Eff. Jan. 1, 1973 ;-- Am. 1985, Act 76, Imd. Eff. July 5, 1985 ;-- Am. 1989, Act 121, Eff. Oct. 1, 1989
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Section 450.1703 - Repealed. 1989, Act 121, Eff.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Section 450.1704 - Repealed. 1989, Act 121, Eff.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Section 450.1721-450.1723 - Repealed. 1989, Act 121, Eff.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Section 450.1731-450.1734 - Repealed. 1989, Act 121, Eff.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Section 450.1768a - Repealed. 1989, Act 121, Eff.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.