2011 Michigan Compiled Laws
Chapter 450 — CORPORATIONS
Act 284 of 1972 — BUSINESS CORPORATION ACT (450.1101 - 450.2099)
284-1972-1 — CHAPTER 1 GENERAL PROVISIONS (450.1101...450.1151)
Section 450.1109 — Definitions; S.
BUSINESS CORPORATION ACT (EXCERPT)
Act 284 of 1972
450.1109 Definitions; S.
Sec. 109.
(1) Shareholder means a person holding units of proprietary interest in a corporation and is considered to be synonymous with member in a nonstock corporation.
(2) Shares means the units into which proprietary interests in a corporation are divided and is considered to be synonymous with membership in a nonstock corporation.
History: 1972, Act 284, Eff. Jan. 1, 1973 ;-- Am. 1973, Act 98, Imd. Eff. Aug. 8, 1973 ;-- Am. 1989, Act 121, Eff. Oct. 1, 1989 ;-- Am. 1993, Act 91, Eff. Oct. 1, 1993
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