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Michigan Legislature
Michigan Compiled Laws Complete Through PA 446 of 2014
House: Adjourned until Wednesday, January 28, 2015 1:30:00 PM
Senate: Adjourned until Wednesday, January 28, 2015 10:00:00 AM

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Section 450.3137

NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982


450.3137 Nonvoting investment certificate or bond.

Sec. 1137.

Subject to the uniform securities act, 1964 PA 265, MCL 451.501 to 451.818, and the uniform securities act (2002), 2008 PA 551, MCL 451.2101 to 451.2703, a cooperative may offer to its members or to the general public any form of nonvoting investment certificate or bond that may bear interest or dividends as provided by the board of directors.


History: Add. 1984, Act 209, Eff. Nov. 1, 1985 ;-- Am. 2009, Act 94, Imd. Eff. Sept. 24, 2009


© 2009 Legislative Council, State of Michigan