2006 Michigan Compiled Laws - Mich. Comp. Laws § 450.2446 Voting of shares or membership held by joint tenants or tenants in common.

NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982


450.2446 Voting of shares or membership held by joint tenants or tenants in common.

Sec. 446.

The vote of shares or a membership held by 2 or more persons as joint tenants or as tenants in common may be cast or voted at a meeting of shareholders or members by any of such persons, unless another joint tenant or tenant in common seeks to vote in person or by proxy. In the latter event, the written agreement, if any, which governs the manner in which the shares or membership shall be voted, controls if presented at the meeting. If no such agreement is presented at the meeting, the majority in interest of the joint tenant or tenants in common present shall control the manner of voting. In the case of a stock corporation if there is no such majority, the shares, for the purpose of voting, shall be divided among such joint tenants or tenants in common in accordance with their interest in the shares.


History: 1982, Act 162, Eff. Jan. 1, 1983



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