BUSINESS CORPORATION ACT (EXCERPT)
Act 284 of 1972
450.1109 Definitions; S.Sec. 109.
(1) "Services in a learned profession" means services provided to the public by a dentist, an osteopathic physician, a physician, a surgeon, a doctor of divinity or other clergy, or an attorney-at-law.
(2) "Shareholder" means a person that holds units of proprietary interest in a corporation and is considered to be synonymous with "member" in a nonstock corporation.
(3) "Shares" means the units into which proprietary interests in a corporation are divided and is considered to be synonymous with "membership" in a nonstock corporation.
History: 1972, Act 284, Eff. Jan. 1, 1973
;--
Am. 1973, Act 98, Imd. Eff. Aug. 8, 1973
;--
Am. 1989, Act 121, Eff. Oct. 1, 1989
;--
Am. 1993, Act 91, Eff. Oct. 1, 1993
;--
Am. 2012, Act 569, Imd. Eff. Jan. 2, 2013
© 2009 Legislative Council, State of Michigan
