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Michigan Legislature
Michigan Compiled Laws Complete Through PA 446 of 2014
House: Adjourned until Tuesday, January 27, 2015 1:30:00 PM
Senate: Adjourned until Tuesday, January 27, 2015 10:00:00 AM

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Act 162 of 1982
Chapter 4

Section 450.2401SectionMeetings of shareholders or members; location.
Section 450.2402SectionAnnual meeting of shareholders or members for election of directors and other business; failure to hold meeting at designated time or elect sufficient number of directors; adjournment of meeting; court order to hold meeting or election; quorum.
Section 450.2403SectionSpecial meeting of shareholders or members; court order; quorum.
Section 450.2404SectionNotice of time, place, and purposes of meeting of shareholders or members; manner; notice of adjourned meeting; notice not given; attendance at meeting as waiver of notice; participating and voting by remote communication.
Section 450.2405SectionShareholder or member participation in meeting by conference telephone or other means of remote communication; conditions; participation as presence in person at meeting; participating and voting by remote communication.
Section 450.2406aSectionNotice by electronic transmission.
Section 450.2407SectionTaking corporate action without meeting; consent; notice; statement on filed certificate; consent by electronic transmission.
Section 450.2411SectionFixing record date for determination of shareholders or members entitled to notice and vote; effect of not fixing record date; applicability of determination to adjournment.
Section 450.2413SectionMaking and certifying list of shareholders or members entitled to vote at meeting or adjournment; requirements; noncompliance; adjournment of meeting; validity of action taken.
Section 450.2415SectionQuorum; continuing to do business notwithstanding withdrawal of shareholders or members; adjournment of meeting; shareholders entitled to vote separately.
Section 450.2421SectionAuthorizing person to act for shareholder or member by proxy; signature; duration; revocability; methods of granting authority; use of facsimile or reproduction.
Section 450.2422SectionIrrevocable proxy.
Section 450.2423SectionRevocability of proxy.
Section 450.2431SectionInspectors at shareholders' or members' meeting; waiver; appointment and duties; failure to appoint; vacancy; report; evidence.
Section 450.2441SectionVoting generally.
Section 450.2442SectionVoting as class.
Section 450.2443SectionGrouping of members in local units; basis; purpose; actions authorized by bylaws; incorporation and powers of local units; powers, rights, and privileges of elected representatives or delegates.
Section 450.2444SectionVoting by corporation or business corporation; voting of pledged shares.
Section 450.2445SectionVoting of shares or membership held by person in representative or fiduciary capacity or held jointly by fiduciaries.
Section 450.2446SectionVoting of shares or membership held by joint tenants or tenants in common.
Section 450.2447SectionTreasury shares; shares of corporation held by another corporation or business corporation; voting.
Section 450.2448SectionRedemption of shares; voting.
Section 450.2451SectionVoting for directors.
Section 450.2455SectionAction requiring vote or concurrence of greater proportion of shares, members, or class than required by act; amendment of articles.
Section 450.2461SectionAgreement as to voting rights.
Section 450.2471SectionShares as personal property; transfer; applicability of MCL 440.8101 to 440.8601.
Section 450.2481SectionIssuing or delivering unissued or treasury shares; preemptive rights.
Section 450.2485SectionBooks, records, and minutes.
Section 450.2487SectionMailing balance sheet and statements to shareholder or member upon request; examination of minutes and records; compelling production of books, records, and minutes; extracts.
Section 450.2491SectionAction by shareholder or member in right of corporation to procure judgment; allegations.
Section 450.2492SectionDiscontinuance, compromise, or settlement of action authorized by MCL 450.2491; approval; notice; expense; award and recovery.
Section 450.2493SectionAction brought in right of corporation; awarding plaintiff or claimant reasonable expenses; accounting; applicability of section; requiring plaintiff to pay expenses where action brought without reasonable cause.