2006 Michigan Compiled Laws - CHAPTER 4 (450.2401...450.2493)

NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982
Chapter 4


DocumentDescription
Section 450.2401Meetings of shareholders or members; location.
Section 450.2402Annual meeting of shareholders or members for election of directors and other business; failure to hold meeting at designated time or elect sufficient number of directors; adjournment of meeting; court order to hold meeting or election; quorum.
Section 450.2403Special meeting of shareholders or members; court order; quorum.
Section 450.2404Notice of time, place, and purposes of meeting of shareholders or members; notice of adjourned meeting; attendance at meeting as waiver of notice.
Section 450.2405Shareholder or member participation in meeting by conference telephone or similar communications equipment; conditions; participation as presence in person at meeting.
Section 450.2407Taking corporate action without meeting; consent; notice; statement on filed certificate.
Section 450.2411Fixing record date for determination of shareholders or members entitled to notice and vote; effect of not fixing record date; applicability of determination to adjournment.
Section 450.2413Making and certifying list of shareholders or members entitled to vote at meeting or adjournment; noncompliance; adjournment of meeting; validity of action taken.
Section 450.2415Quorum; continuing to do business notwithstanding withdrawal of shareholders or members; adjournment of meeting; shareholders entitled to vote separately.
Section 450.2421Authorizing person to act for shareholder or member by proxy; signature; duration; revocability.
Section 450.2422Irrevocable proxy.
Section 450.2423Revocability of proxy.
Section 450.2431Inspectors at shareholders' or members' meeting; waiver; appointment and duties; failure to appoint; vacancy; report; evidence.
Section 450.2441Voting generally.
Section 450.2442Voting as class.
Section 450.2443Grouping of members in local units; basis; purpose; actions authorized by bylaws; incorporation and powers of local units; powers, rights, and privileges of elected representatives or delegates.
Section 450.2444Voting by corporation or business corporation; voting of pledged shares.
Section 450.2445Voting of shares or membership held by person in representative or fiduciary capacity or held jointly by fiduciaries.
Section 450.2446Voting of shares or membership held by joint tenants or tenants in common.
Section 450.2447Treasury shares; shares of corporation held by another corporation or business corporation; voting.
Section 450.2448Redemption of shares; voting.
Section 450.2451Voting for directors.
Section 450.2455Action requiring vote or concurrence of greater proportion of shares, members, or class than required by act; amendment of articles.
Section 450.2461Agreement as to voting rights.
Section 450.2471Shares as personal property; transfer; applicability of §§ 440.8101 to 440.8601.
Section 450.2481Issuing or delivering unissued or treasury shares; preemptive rights.
Section 450.2485Books, records, and minutes.
Section 450.2487Mailing balance sheet and statements to shareholder or member upon request; examination of minutes and records; compelling production of books, records, and minutes; extracts.
Section 450.2491Action by shareholder or member in right of corporation to procure judgment; allegations.
Section 450.2492Discontinuance, compromise, or settlement of action authorized by § 450.2491; approval; notice; expense; award and recovery.
Section 450.2493Action brought in right of corporation; awarding plaintiff or claimant reasonable expenses; accounting; applicability of section; requiring plaintiff to pay expenses where action brought without reasonable cause.

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