capitol dome
Michigan Legislative Website


Michigan Compiled Laws Complete Through PA 85 and includes 95, 97 & 116 of 2014
House: Adjourned until Wednesday, April 23, 2014 1:30:00 PM
Senate: Adjourned until Tuesday, April 22, 2014 10:00:00 AM

Michigan Legislative Website

Main Content

Section 450.2312

NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982


450.2312 Issuance by corporation organized on stock basis of shares for fixed consideration; disposition of treasury shares.

Sec. 312.

(1) Shares may be issued by a corporation organized on a stock basis for a consideration fixed by the board unless the articles of incorporation reserve this right to the shareholders.

(2) Unless otherwise provided in the articles of incorporation, treasury shares which are transferable may be disposed of by the corporation for a consideration fixed by the board.


History: 1982, Act 162, Eff. Jan. 1, 1983


© 2009 Legislative Council, State of Michigan