2006 Michigan Compiled Laws - CHAPTER 11 (450.3100...450.3192)

NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982 Chapter 11

Document	Description
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 § 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 or referendum.
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.

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