MCL - 162-1982-11
Act 162 of 1982
| Document | Type | Description |
|---|---|---|
| Section 450.3100 | Section | Short title. |
| Section 450.3101 | Section | Applicability of act and chapter; amendment of articles or bylaws; exemption. |
| Section 450.3102 | Section | Controlling definitions. |
| Section 450.3103 | Section | Definitions; C to F. |
| Section 450.3104 | Section | Definitions; I to U. |
| Section 450.3107 | Section | Inconsistent provisions inapplicable to chapter. |
| Section 450.3109 | Section | Requirements of MCL 460.1 et seq. not modified; effect of economic activity conducted by cooperative. |
| Section 450.3121 | Section | Articles of incorporation; requirement. |
| Section 450.3123 | Section | Use of term “cooperative,”“co-op,”“consumer cooperative,” or any variation thereof. |
| Section 450.3125 | Section | Adoption of initial bylaws; ratification or amendment; contents of bylaws. |
| Section 450.3131 | Section | Organization on nonstock membership basis. |
| Section 450.3132 | Section | Membership; notice of qualifications. |
| Section 450.3133 | Section | Classification. |
| Section 450.3134 | Section | Cooperative organized on member capital basis, member fee basis, or basis combining member capital and membership fee; powers. |
| Section 450.3135 | Section | Net savings; determination, allocation, distribution, and use; apportionment of losses. |
| Section 450.3136 | Section | Certificate; issuance; contents; restrictions on dividends. |
| Section 450.3137 | Section | Nonvoting investment certificate or bond. |
| Section 450.3138 | Section | Advising persons in writing; statement on membership certificate. |
| Section 450.3139 | Section | 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 accumulate full member capital or comply with bylaws. |
| Section 450.3141 | Section | Meetings; petitions; signatures; quorum. |
| Section 450.3143 | Section | Alternative notice of regular meeting. |
| Section 450.3144 | Section | Proxies; voting by mail ballot, referendum, or electronic transmission. |
| Section 450.3145 | Section | Amendments; affirmative vote of majority. |
| Section 450.3146 | Section | Effective date of adopted action; confirmation vote; filing with administrator. |
| Section 450.3147 | Section | Dispute resolution body. |
| Section 450.3148 | Section | 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. |
| Section 450.3149 | Section | 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 members regarding proposal. |
| Section 450.3151 | Section | Initial board of directors; membership; term. |
| Section 450.3152 | Section | Board of directors; election or appointment other than by vote of membership. |
| Section 450.3153 | Section | Affiliation with another organization; section inapplicable to allocations of net savings. |
| Section 450.3161 | Section | Amendment to articles of incorporation; calling special meeting; consideration of proposed amendment. |
| Section 450.3162 | Section | Distribution of assets generally. |
| Section 450.3183 | Section | Distribution of assets upon dissolution; distribution of assets held for charitable or similar purpose; redemption of investment certificates. |
| Section 450.3191 | Section | Foreign cooperative. |
| Section 450.3192 | Section | Election by corporation to accept act and chapter; procedure; effect of filing certificate of election. |