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Michigan Legislature
Michigan Compiled Laws Complete Through PA 33 of 2017
House: Adjourned until Tuesday, May 23, 2017 1:30:00 PM
Senate: Adjourned until Tuesday, May 23, 2017 10:00:00 AM

Michigan Legislature

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284-1972-3
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BUSINESS CORPORATION ACT (EXCERPT)
Act 284 of 1972
Chapter 3
CAPITAL STRUCTURE AND CORPORATE FINANCE

DocumentTypeDescription
Section 450.1301SectionIssuance and classes of shares; rights, preferences, and limitations.
Section 450.1301aSectionAmendment deleting reference to par value.
Section 450.1302SectionClass of shares; division and issuance in series; rights and preferences; certificate; amendment eliminating series of shares.
Section 450.1303SectionConvertible shares and bonds; increase in shares to satisfy conversion privileges.
Section 450.1304SectionConvertible shares and bonds; conditions to issuance; disposition of convertible bonds or shares.
Section 450.1304aSectionRedeemable shares.
Section 450.1305SectionSubscription for shares.
Section 450.1306SectionSubscription for shares; payment; call; security interest.
Section 450.1307SectionSubscription agreement; default in payment; rights and duties of corporation.
Section 450.1308SectionCancellation of shares upon rescission of subscription.
Section 450.1311, 450.1313SectionRepealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1314SectionReservation of powers to shareholders; consideration for authorized issuance of shares; determination of adequacy; shares fully paid and nonassessable; rights and privileges of subscriber.
Section 450.1315SectionRepealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1317SectionLiability of purchaser, holder, subscriber, assignee, transferee, pledgee, or shareholder.
Section 450.1321SectionRepealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1327SectionExpenses of organization and reorganization; expenses of sale or underwriting of shares.
Section 450.1331SectionShare certificates.
Section 450.1332SectionShare certificates; contents.
Section 450.1334SectionShare certificates; loss or destruction; bond.
Section 450.1335SectionRepealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1336SectionIssuance or transfer of shares without certificates; statement.
Section 450.1338SectionFractions of share or scrip.
Section 450.1341SectionRepealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1341aSectionIssuance of shares pro rata and without consideration; share dividend.
Section 450.1342SectionRepealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1342aSectionRights, options, or warrants.
Section 450.1343SectionPreemptive rights.
Section 450.1344SectionAcquisition of own shares by corporation; shares as authorized but unissued; reducing number of authorized shares if reissuance prohibited; restriction on acquisition.
Section 450.1345SectionDistributions to shareholders; record date for determining entitlement; prohibited distribution; determination; measuring effect of distribution; indebtedness to shareholder; obligation to make future payments; enforceability of guaranty or other undertaking by third party; asserting right of rescission or other legal or equitable rights.
Section 450.1351-450.1367SectionRepealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1368SectionRepealed. 1997, Act 118, Imd. Eff. Oct. 24, 1997.
Section 450.1371-450.1381SectionRepealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1391SectionInspection and voting rights of bondholders; facsimile signatures.
Section 450.1392SectionChapter inapplicable to distributions in dissolution.
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