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Michigan Legislature
Michigan Compiled Laws Complete Through PA 19 of 2024
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NOTE: Dates reflect any modification to item, not necessarily a change in law.

162-1982-4 - CHAPTER 4 (450.2401...450.2497)
Section 450.2401 ‑ Meetings of shareholders or members; location.
Section 450.2402 ‑ Annual meeting of shareholders or members for election of directors and conduct 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 450.2403 ‑ Special meeting of shareholders or members; court order; quorum.
Section 450.2404 ‑ Notice of time, place, and purposes of meeting of shareholders or members; manner; contents; notice of adjourned meeting; notice not given; attendance at meeting; participating and voting by remote communication; meeting without notice.
Section 450.2405 ‑ Shareholder, member, or proxy holder 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 450.2406 ‑ Chairperson presiding at meeting of shareholders or members; powers, duties, and authority.
Section 450.2406a ‑ Notice by electronic transmission.
Section 450.2407 ‑ Taking corporate action without meeting; consent; notice; statement on filed certificate; consent by electronic transmission; delivery.
Section 450.2408 ‑ Taking corporate action without meeting; shareholder or member action by ballot; requirements; revocation of ballot; inclusion of proposed action in ballot; statement of certificate.
Section 450.2409 ‑ Taking corporate action without meeting; voting by shareholder or member at polling place; accessibility; requirements; revocation of ballot; inclusion of proposed action in ballot; statement on certificate.
Section 450.2411 ‑ Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.
Section 450.2412 ‑ Record date.
Section 450.2413 ‑ Making and certifying list of shareholders or members entitled to vote at meeting or adjournment; requirements; noncompliance; adjournment of meeting; validity of action taken.
Section 450.2415 ‑ Quorum; continuing conduct of business if less than quorum; adjournment of meeting; shareholders entitled to vote separately.
Section 450.2421 ‑ Authorizing person to act for shareholder or member by proxy; election of directors by proxy; validity; revocability; methods of granting authority; use of copy, facsimile, or reproduction.
Section 450.2422 ‑ Irrevocable proxy.
Section 450.2423 ‑ Revocability of proxy.
Section 450.2431 ‑ Inspectors at shareholders' or members' meeting; waiver; appointment and duties; failure to appoint; vacancy; report; evidence.
Section 450.2432 ‑ Beneficial owner of shares or memberships registered in name of nominee; recognition by corporation as shareholder or member; procedure.
Section 450.2441 ‑ Voting generally.
Section 450.2442 ‑ Voting as class.
Section 450.2443 ‑ Grouping 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 450.2444 ‑ Voting by corporation or business corporation; voting of pledged shares.
Section 450.2445 ‑ Voting of shares or membership held by person in representative or fiduciary capacity or held jointly by fiduciaries.
Section 450.2446 ‑ Voting of shares or membership held by joint tenants or tenants in common.
Section 450.2447 ‑ Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.
Section 450.2447a ‑ Voting of shares or memberships if owned by another corporation or business corporation.
Section 450.2448 ‑ Redemption of shares; voting.
Section 450.2451 ‑ Voting for directors.
Section 450.2455 ‑ Action requiring vote or concurrence of greater proportion of shares, members, or class than required by act; amendment of articles of incorporation.
Section 450.2461 ‑ Agreement as to voting rights.
Section 450.2466 ‑ Transfer of shares or membership to trustee; filing of voting rights agreement; voting and other rights of trustee; inspection of filed copy of voting trust agreement; description of beneficial interests.
Section 450.2467 ‑ Shares or memberships subject to voting trust; liability of trustee; designation of 2 or more persons as voting trustees.
Section 450.2468 ‑ Extension of voting trust agreement.
Section 450.2471 ‑ Shares as personal property; transfer; applicability of MCL 440.8101 to 440.8601.
Section 450.2472 ‑ Transfer or registration of bond, share, or membership; written restriction.
Section 450.2473 ‑ Transfer or registration of bond, share, or membership; imposition of restrictions; conditions.
Section 450.2481 ‑ Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.
Section 450.2485 ‑ Books, records, and minutes.
Section 450.2487 ‑ Mailing balance sheet and statements to shareholder or member upon request; inspection during regular business hours; written demand; "proper purpose" defined; order compelling inspection; burden of proof; powers of court; inspection by director; costs; holder of voting trust certificate as shareholder or member; right to inspect prohibited or limited; definitions.
Section 450.2488 ‑ Agreement among members of corporation.
Section 450.2489 ‑ Court action that certain acts illegal, fraudulent, or willfully unfair and oppressive; order or relief; "willfully unfair and oppressive conduct" defined.
Section 450.2491 ‑ Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.
Section 450.2491a ‑ Definitions.
Section 450.2492 ‑ Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.
Section 450.2492a ‑ Derivate proceeding; criteria to be met by shareholder or member.
Section 450.2493 ‑ Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.
Section 450.2493a ‑ Derivative proceeding; commencement.
Section 450.2494 ‑ Derivative proceeding; investigation; issuance of stay.
Section 450.2495 ‑ Derivative proceeding; dismissal.
Section 450.2496 ‑ Derivative proceeding; discontinuance or settlement; court approval required.
Section 450.2497 ‑ Derivative proceeding; termination.

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