There is a newer version of the Michigan Compiled Laws
2011 Michigan Compiled Laws
Chapter 450 — CORPORATIONS
Act 284 of 1972 — BUSINESS CORPORATION ACT (450.1101 - 450.2099)
284-1972-3 — CHAPTER 3 CAPITAL STRUCTURE AND CORPORATE FINANCE (450.1301...450.1392)
- Section 450.1301 — Issuance and classes of shares; rights, preferences, and limitations.
- Section 450.1301a — Amendment deleting reference to par value.
- Section 450.1302 — Class of shares; division and issuance in series; rights and preferences; certificate; amendment eliminating series of shares.
- Section 450.1303 — Convertible shares and bonds; increase in shares to satisfy conversion privileges.
- Section 450.1304 — Convertible shares and bonds; conditions to issuance; disposition of convertible bonds or shares.
- Section 450.1304a — Redeemable shares.
- Section 450.1305 — Subscription for shares.
- Section 450.1306 — Subscription for shares; payment; call; security interest.
- Section 450.1307 — Subscription agreement; default in payment; rights and duties of corporation.
- Section 450.1308 — Cancellation of shares upon rescission of subscription.
- Section 450.1311, 450.1313 — Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
- Section 450.1314 — Reservation of powers to shareholders; consideration for authorized issuance of shares; determination of adequacy; shares fully paid and nonassessable; rights and privileges of subscriber.
- Section 450.1315 — Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
- Section 450.1317 — Liability of purchaser, holder, subscriber, assignee, transferee, pledgee, or shareholder.
- Section 450.1321 — Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
- Section 450.1327 — Expenses of organization and reorganization; expenses of sale or underwriting of shares.
- Section 450.1331 — Share certificates.
- Section 450.1332 — Share certificates; contents.
- Section 450.1334 — Share certificates; loss or destruction; bond.
- Section 450.1335 — Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
- Section 450.1336 — Issuance or transfer of shares without certificates; statement.
- Section 450.1338 — Fractions of share or scrip.
- Section 450.1341 — Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
- Section 450.1341a — Issuance of shares pro rata and without consideration; share dividend.
- Section 450.1342 — Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
- Section 450.1342a — Rights, options, or warrants.
- Section 450.1343 — Preemptive rights.
- Section 450.1344 — Acquisition of own shares by corporation; shares as authorized but unissued; reducing number of authorized shares if reissuance prohibited; restriction on acquisition.
- Section 450.1345 — Distributions 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 450.1351-450.1367 — Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
- Section 450.1368 — Repealed. 1997, Act 118, Imd. Eff. Oct. 24, 1997.
- Section 450.1371-450.1381 — Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
- Section 450.1391 — Inspection and voting rights of bondholders; facsimile signatures.
- Section 450.1392 — Chapter inapplicable to distributions in dissolution.
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