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Michigan Compiled Laws Complete Through PA 29 of 2013
House: Adjourned until Tuesday, May 28, 2013 10:00:00 AM
Senate: Adjourned until Tuesday, May 28, 2013 10:00:00 AM

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NOTE: Dates reflect any modification to item, not necessarily a change in law.

162-1982-11 - CHAPTER 11 (450.3100...450.3192)
Section 450.3100 ‑ Short title.
Section 450.3101 ‑ Applicability of act and chapter; amendment of articles or bylaws; exemption.
Section 450.3102 ‑ Controlling definitions.
Section 450.3103 ‑ Definitions; C to F.
Section 450.3104 ‑ Definitions; M to U.
Section 450.3107 ‑ Inconsistent provisions inapplicable to chapter.
Section 450.3109 ‑ Requirements of MCL 460.1 et seq. not modified; effect of economic activity conducted by cooperative.
Section 450.3121 ‑ Articles of incorporation; requirement.
Section 450.3123 ‑ Use of term “cooperative,”“co-op,”“consumer cooperative,” or any variation thereof.
Section 450.3125 ‑ Adoption of initial bylaws; ratification or amendment; contents of bylaws.
Section 450.3131 ‑ Organization on nonstock membership basis.
Section 450.3132 ‑ Membership; notice of qualifications.
Section 450.3133 ‑ Classification.
Section 450.3134 ‑ Cooperative organized on member capital basis, member fee basis, or basis combining member capital and membership fee; powers.
Section 450.3135 ‑ Net savings; determination, allocation, distribution, and use; apportionment of losses.
Section 450.3136 ‑ Certificate; issuance; contents; restrictions on dividends.
Section 450.3137 ‑ Nonvoting investment certificate or bond.
Section 450.3138 ‑ Advising persons in writing; statement on membership certificate.
Section 450.3139 ‑ Redemption of member capital; failure to patronize cooperative; notice of redemption; failure to respond and claim payment; failure to claim refunds of patronage capital, deposits, and fees; failure of nonmember patron to pay in or accumulate full member capital or comply with bylaws.
Section 450.3141 ‑ Meetings; petitions; signatures; quorum.
Section 450.3143 ‑ Alternative notice of regular meeting.
Section 450.3144 ‑ Proxies; voting by mail ballot, referendum, or electronic transmission.
Section 450.3145 ‑ Amendments; affirmative vote of majority.
Section 450.3146 ‑ Effective date of adopted action; confirmation vote; filing with administrator.
Section 450.3147 ‑ Dispute resolution body.
Section 450.3148 ‑ Purchase or sale under execution, in course of bankruptcy, or by legal process or operation of law; pledge of certificate; assignment of proprietary lease or other agreement.
Section 450.3149 ‑ Books for recording operations; annual report, balance sheet, and income statement; certified report of condition; copies of reports; mailings at request and expense of member; notice of member's desire to be contacted by other members regarding proposal.
Section 450.3151 ‑ Initial board of directors; membership; term.
Section 450.3152 ‑ Board of directors; election or appointment other than by vote of membership.
Section 450.3153 ‑ Affiliation with another organization; section inapplicable to allocations of net savings.
Section 450.3161 ‑ Amendment to articles of incorporation; calling special meeting; consideration of proposed amendment.
Section 450.3162 ‑ Distribution of assets generally.
Section 450.3183 ‑ Distribution of assets upon dissolution; distribution of assets held for charitable or similar purpose; redemption of investment certificates.
Section 450.3191 ‑ Foreign cooperative.
Section 450.3192 ‑ Election by corporation to accept act and chapter; procedure; effect of filing certificate of election.