PocketLaw | Michigan Compiled Laws | Chapter 11 (450.3100...450.3192)

Requirements of MCL 460.1 Et Seq. Not Modified; Effect of Economic Activity Conducted by Cooperative.

Section
450.3121

Articles of Incorporation; Requirement.

Section
450.3123

Use of Term “Cooperative,”“co-Op,”“consumer Cooperative,” or Any Variation Thereof.

Section
450.3125

Cooperative Organized on Member Capital Basis, Member Fee Basis, or Basis Combining Member Capital and Membership Fee; Powers.

Section
450.3135

Net Savings; Determination, Allocation, Distribution, and Use; Apportionment of Losses.

Section
450.3136

Certificate; Issuance; Contents; Restrictions on Dividends.

Section
450.3137

Nonvoting Investment Certificate or Bond.

Section
450.3138

Advising Persons in Writing; Statement on Membership Certificate.

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 Accumulate Full Member Capital or Comply With Bylaws.

Section
450.3141

Meetings; Petitions; Signatures; Quorum.

Section
450.3143

Alternative Notice of Regular Meeting.

Section
450.3144

Proxies; Voting by Mail Ballot, Referendum, or Electronic Transmission.

Section
450.3145

Amendments; Affirmative Vote of Majority.

Section
450.3146

Effective Date of Adopted Action; Confirmation Vote; Filing With Administrator.

Section
450.3147

Dispute Resolution Body.

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.

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 Members Regarding Proposal.

Section
450.3151

Initial Board of Directors; Membership; Term.

Section
450.3152

Board of Directors; Election or Appointment Other Than by Vote of Membership.

Section
450.3153

Affiliation With Another Organization; Section Inapplicable to Allocations of Net Savings.

Section
450.3161

Amendment to Articles of Incorporation; Calling Special Meeting; Consideration of Proposed Amendment.

Section
450.3162

Distribution of Assets Generally.

Section
450.3183

Distribution of Assets Upon Dissolution; Distribution of Assets Held for Charitable or Similar Purpose; Redemption of Investment Certificates.

Section
450.3191

Foreign Cooperative.

Section
450.3192

Chapter 11 (450.3100...450.3192)

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Short Title.

Applicability of Act and Chapter; Amendment of Articles or Bylaws; Exemption.

Controlling Definitions.

Definitions; C to F.

Definitions; I to U.

Inconsistent Provisions Inapplicable to Chapter.

Requirements of MCL 460.1 Et Seq. Not Modified; Effect of Economic Activity Conducted by Cooperative.

Articles of Incorporation; Requirement.

Use of Term “Cooperative,”“co-Op,”“consumer Cooperative,” or Any Variation Thereof.

Adoption of Initial Bylaws; Ratification or Amendment; Contents of Bylaws.

Organization on Nonstock Membership Basis.

Membership; Notice of Qualifications.

Classification.

Cooperative Organized on Member Capital Basis, Member Fee Basis, or Basis Combining Member Capital and Membership Fee; Powers.

Net Savings; Determination, Allocation, Distribution, and Use; Apportionment of Losses.

Certificate; Issuance; Contents; Restrictions on Dividends.

Nonvoting Investment Certificate or Bond.

Advising Persons in Writing; Statement on Membership Certificate.

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.

Meetings; Petitions; Signatures; Quorum.

Alternative Notice of Regular Meeting.

Proxies; Voting by Mail Ballot, Referendum, or Electronic Transmission.

Amendments; Affirmative Vote of Majority.

Effective Date of Adopted Action; Confirmation Vote; Filing With Administrator.

Dispute Resolution Body.

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.

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.

Initial Board of Directors; Membership; Term.

Board of Directors; Election or Appointment Other Than by Vote of Membership.

Affiliation With Another Organization; Section Inapplicable to Allocations of Net Savings.

Amendment to Articles of Incorporation; Calling Special Meeting; Consideration of Proposed Amendment.

Distribution of Assets Generally.

Distribution of Assets Upon Dissolution; Distribution of Assets Held for Charitable or Similar Purpose; Redemption of Investment Certificates.

Foreign Cooperative.

Election by Corporation to Accept Act and Chapter; Procedure; Effect of Filing Certificate of Election.