PocketLaw | Michigan Compiled Laws | Chapter 3 (450.2301...450.2392)

Section
450.2301

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

Corporation Organized Upon Nonstock Basis.

Section
450.2303

Corporation Organized on Stock Basis; Issuance of Shares Authorized in Articles of Incorporation; Rules of Qualification and Government of Shareholders.

Section
450.2303a

Corporation Board Organized on Stock Basis; Amendment of Articles of Incorporation Deleting Reference to Par Value.

Section
450.2303b

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

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

Shares Redeemable in Cash, Bonds, Securities, or Other Property; Prices and Conditions.

Section
450.2304

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

Corporation Organized on Directorship Basis; Members; Voting; Matters Subject to Action by Board of Directors.

Section
450.2307

Subscription for Shares or Membership; Enforceability; Irrevocability; Acceptance; Consent to Revocation; Subscription Agreement.

Section
450.2308

Subscription for Shares or Membership; Payment; Installments; Call for Payment Ratable; Retention of Security Interest as Security for Performance by Subscriber.

Section
450.2309

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

Rescission of Subscription Under Which Part of Shares Issued and in Which Security Interest Retained as Cancellation of Shares.

Section
450.2311

Fees or Dues Required as Condition of Shareholding or Membership; Fixing; Enforcement.

Section
450.2312

Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.

Section
450.2313

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

Corporation Organized on Stock Basis; Issuance of Shares; Powers.

Section
450.2315

Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.

Section
450.2317

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

Charges and Expenses of Organization or Reorganization; Sale or Underwriting Expenses and Compensation; Payment or Allowance.

Section
450.2331

Representation of Shares by Certificates; Signatures of Officers; Seal; Facsimiles.

Section
450.2332

Issuing Fractions of Shares; Powers of Corporation; Providing Opportunity to Purchase Additional Fractions of Share or Scrip.

Section
450.2341a

Issuance of Shares Pro Rata and Without Consideration; Issuance of Shares as Share Dividend; "Share Dividend" Defined.

Section
450.2343

Preemptive Right of Shareholder of Corporation Organized on Stock Basis to Acquire Unissued Shares; Extent; Statement; Principles; "Shares" Defined.

Section
450.2344

Acquisition of Own Shares or Memberships; Amendment of Articles of Incorporation.

Section
450.2345

Distributions to Shareholders or Members.

Section
450.2361

Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.

Section
450.2363

Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.

Section
450.2365

Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.

Section
450.2371

Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.

Section
450.2391

Conferring Voting and Inspection Rights Upon Bond Holders; Signatures of Officers.

Section
450.2392

Chapter 3 (450.2301...450.2392)

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Corporation Organized Upon Nonstock Basis.

Corporation Organized on Stock Basis; Issuance of Shares Authorized in Articles of Incorporation; Rules of Qualification and Government of Shareholders.

Corporation Board Organized on Stock Basis; Amendment of Articles of Incorporation Deleting Reference to Par Value.

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.

Issuance of Bonds Convertible Into Shares or Shares Convertible Into Other Shares of Corporation; Condition; Cancellation of Converted Bonds; Restoration of Converted Shares.

Shares Redeemable in Cash, Bonds, Securities, or Other Property; Prices and Conditions.

Corporation Organized on Directorship Basis; Members; Voting; Matters Subject to Action by Board of Directors.

Subscription for Shares or Membership; Enforceability; Irrevocability; Acceptance; Consent to Revocation; Subscription Agreement.

Subscription for Shares or Membership; Payment; Installments; Call for Payment Ratable; Retention of Security Interest as Security for Performance by Subscriber.

Default in Payment of Amount Due Under Subscription Agreement; Rights and Duties of Corporation; Limiting and Adding to Rights and Remedies of Corporation.

Rescission of Subscription Under Which Part of Shares Issued and in Which Security Interest Retained as Cancellation of Shares.

Fees or Dues Required as Condition of Shareholding or Membership; Fixing; Enforcement.

Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.

Corporation Organized on Stock Basis; Issuance of Shares; Powers.

Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.

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.

Charges and Expenses of Organization or Reorganization; Sale or Underwriting Expenses and Compensation; Payment or Allowance.

Representation of Shares by Certificates; Signatures of Officers; Seal; Facsimiles.

Certificate Representing Shares; Required Statements.

Lost or Destroyed Certificate; Issuance of New Certificate; Bond.

Authorization of Shares Without Certificates.

Issuing Fractions of Shares; Powers of Corporation; Providing Opportunity to Purchase Additional Fractions of Share or Scrip.

Issuance of Shares Pro Rata and Without Consideration; Issuance of Shares as Share Dividend; "Share Dividend" Defined.

Preemptive Right of Shareholder of Corporation Organized on Stock Basis to Acquire Unissued Shares; Extent; Statement; Principles; "Shares" Defined.

Acquisition of Own Shares or Memberships; Amendment of Articles of Incorporation.

Distributions to Shareholders or Members.

Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.

Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.

Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.

Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.

Conferring Voting and Inspection Rights Upon Bond Holders; Signatures of Officers.

Applicability of Chapter to Distributions Made in Dissolution Under Chapter 8.