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2006 Michigan Compiled Laws - CHAPTER 3 CAPITAL STRUCTURE AND CORPORATE FINANCE (450.1301...450.1392)

BUSINESS CORPORATION ACT (EXCERPT)
Act 284 of 1972
Chapter 3
CAPITAL STRUCTURE AND CORPORATE FINANCE

DocumentDescription
Section 450.1301Issuance and classes of shares; rights, preferences, and limitations.
Section 450.1301aAmendment deleting reference to par value.
Section 450.1302Class of shares; division and issuance in series; rights and preferences; certificate; amendment eliminating series of shares.
Section 450.1303Convertible shares and bonds; increase in shares to satisfy conversion privileges.
Section 450.1304Convertible shares and bonds; conditions to issuance; disposition of convertible bonds or shares.
Section 450.1304aRedeemable shares.
Section 450.1305Subscription for shares.
Section 450.1306Subscription for shares; payment; call; security interest.
Section 450.1307Subscription agreement; default in payment; rights and duties of corporation.
Section 450.1308Cancellation of shares upon rescission of subscription.
Section 450.1311, 450.1313Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1314Reservation of powers to shareholders; consideration for authorized issuance of shares; determination of adequacy; shares fully paid and nonassessable; rights and privileges of subscriber.
Section 450.1315Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1317Liability of purchaser, holder, subscriber, assignee, transferee, pledgee, or shareholder.
Section 450.1321Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1327Expenses of organization and reorganization; expenses of sale or underwriting of shares.
Section 450.1331Share certificates.
Section 450.1332Share certificates; contents.
Section 450.1334Share certificates; loss or destruction; bond.
Section 450.1335Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1336Issuance or transfer of shares without certificates; statement.
Section 450.1338Fractions of share or scrip.
Section 450.1341Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1341aIssuance of shares pro rata and without consideration; share dividend.
Section 450.1342Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1342aRights, options, or warrants.
Section 450.1343Preemptive rights.
Section 450.1344Acquisition of own shares by corporation; shares as authorized but unissued; reducing number of authorized shares if reissuance prohibited; restriction on acquisition.
Section 450.1345Distributions to shareholders; record date for determining entitlement; prohibited distribution; determination; measuring effect of distribution; indebtedness to shareholder; obligation to make future payments; enforceability of guaranty or other undertaking by third party; asserting right of rescission or other legal or equitable rights.
Section 450.1351-450.1367Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1368Repealed. 1997, Act 118, Imd. Eff. Oct. 24, 1997.
Section 450.1371-450.1381Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
Section 450.1391Inspection and voting rights of bondholders; facsimile signatures.
Section 450.1392Chapter inapplicable to distributions in dissolution.

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