MCL - 162-1982-3
Act 162 of 1982
| Document | Type | Description |
|---|---|---|
| Section 450.2301 | Section | 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; corporation charging fees or prices for services or products; use, conveyance, or distribution of assets held by corporation for noncharitable purposes; prohibition. |
| Section 450.2302 | Section | Corporation organized upon nonstock basis. |
| Section 450.2303 | Section | Corporation organized on stock basis; issuance of shares authorized in articles of incorporation; rules of qualification and government of shareholders. |
| Section 450.2303a | Section | Corporation board organized on stock basis; amendment of articles of incorporation deleting reference to par value. |
| Section 450.2303b | Section | 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. |
| Section 450.2303c | Section | Issuance of bonds convertible into shares or shares convertible into other shares of corporation; condition; cancellation of converted bonds; restoration of converted shares. |
| Section 450.2303d | Section | Shares redeemable in cash, bonds, securities, or other property; prices and conditions. |
| Section 450.2304 | Section | 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 association; transferability and termination of membership; rules of qualification and government; limitations on membership. |
| Section 450.2305 | Section | Corporation organized on directorship basis; members; voting; matters subject to action by board of directors. |
| Section 450.2307 | Section | Subscription for shares or membership; enforceability; irrevocability; acceptance; consent to revocation; subscription agreement. |
| Section 450.2308 | Section | Subscription for shares or membership; payment; installments; call for payment ratable; retention of security interest as security for performance by subscriber. |
| Section 450.2309 | Section | Default in payment of amount due under subscription agreement; rights and duties of corporation; limiting and adding to rights and remedies of corporation. |
| Section 450.2310 | Section | Rescission of subscription under which part of shares issued and in which security interest retained as cancellation of shares. |
| Section 450.2311 | Section | Fees or dues required as condition of shareholding or membership; fixing; enforcement. |
| Section 450.2312 | Section | Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. |
| Section 450.2313 | Section | 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 of corporation; rights, powers, privileges, and liabilities of shareholders or members. |
| Section 450.2314 | Section | Corporation organized on stock basis; issuance of shares; powers. |
| Section 450.2315 | Section | Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. |
| Section 450.2317 | Section | 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. |
| Section 450.2327 | Section | Charges and expenses of organization or reorganization; sale or underwriting expenses and compensation; payment or allowance. |
| Section 450.2331 | Section | Representation of shares by certificates; signatures of officers; seal; facsimiles. |
| Section 450.2332 | Section | Certificate representing shares; required statements. |
| Section 450.2334 | Section | Lost or destroyed certificate; issuance of new certificate; bond. |
| Section 450.2336 | Section | Authorization of shares without certificates. |
| Section 450.2338 | Section | Issuing fractions of shares; powers of corporation; providing opportunity to purchase additional fractions of share or scrip. |
| Section 450.2341a | Section | Issuance of shares pro rata and without consideration; issuance of shares as share dividend; "share dividend" defined. |
| Section 450.2343 | Section | Preemptive right of shareholder of corporation organized on stock basis to acquire unissued shares; extent; statement; principles; "shares" defined. |
| Section 450.2344 | Section | Acquisition of own shares or memberships; amendment of articles of incorporation. |
| Section 450.2345 | Section | Distributions to shareholders or members. |
| Section 450.2361 | Section | Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. |
| Section 450.2363 | Section | Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. |
| Section 450.2365 | Section | Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. |
| Section 450.2371 | Section | Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. |
| Section 450.2391 | Section | Conferring voting and inspection rights upon bond holders; signatures of officers. |
| Section 450.2392 | Section | Applicability of chapter to distributions made in dissolution under chapter 8. |