MCL - 162-1982-11

Act 162 of 1982
Chapter 11

Document Type Description
Section 450.3100 Section Short title.
Section 450.3101 Section Applicability of act and chapter; amendment of articles or bylaws; exemption.
Section 450.3102 Section Controlling definitions.
Section 450.3103 Section Definitions; C to F.
Section 450.3104 Section Definitions; I to U.
Section 450.3107 Section Inconsistent provisions inapplicable to chapter.
Section 450.3109 Section Requirements of MCL 460.1 et seq. not modified; effect of economic activity conducted by cooperative.
Section 450.3121 Section Articles of incorporation; requirement.
Section 450.3123 Section Use of term “cooperative,”“co-op,”“consumer cooperative,” or any variation thereof.
Section 450.3125 Section Adoption of initial bylaws; ratification or amendment; contents of bylaws.
Section 450.3131 Section Organization on nonstock membership basis.
Section 450.3132 Section Membership; notice of qualifications.
Section 450.3133 Section Classification.
Section 450.3134 Section Cooperative organized on member capital basis, member fee basis, or basis combining member capital and membership fee; powers.
Section 450.3135 Section Net savings; determination, allocation, distribution, and use; apportionment of losses.
Section 450.3136 Section Certificate; issuance; contents; restrictions on dividends.
Section 450.3137 Section Nonvoting investment certificate or bond.
Section 450.3138 Section Advising persons in writing; statement on membership certificate.
Section 450.3139 Section 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 Section Meetings; petitions; signatures; quorum.
Section 450.3143 Section Alternative notice of regular meeting.
Section 450.3144 Section Proxies; voting by mail ballot, referendum, or electronic transmission.
Section 450.3145 Section Amendments; affirmative vote of majority.
Section 450.3146 Section Effective date of adopted action; confirmation vote; filing with administrator.
Section 450.3147 Section Dispute resolution body.
Section 450.3148 Section 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 Section 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 Section Initial board of directors; membership; term.
Section 450.3152 Section Board of directors; election or appointment other than by vote of membership.
Section 450.3153 Section Affiliation with another organization; section inapplicable to allocations of net savings.
Section 450.3161 Section Amendment to articles of incorporation; calling special meeting; consideration of proposed amendment.
Section 450.3162 Section Distribution of assets generally.
Section 450.3183 Section Distribution of assets upon dissolution; distribution of assets held for charitable or similar purpose; redemption of investment certificates.
Section 450.3191 Section Foreign cooperative.
Section 450.3192 Section Election by corporation to accept act and chapter; procedure; effect of filing certificate of election.