2011 Michigan Compiled Laws
Chapter 450 — CORPORATIONS
Act 284 of 1972 — BUSINESS CORPORATION ACT (450.1101 - 450.2099)
284-1972-7A — CHAPTER 7A (450.1775...450.1784)
Section 450.1777 — Definitions; C, D.
BUSINESS CORPORATION ACT (EXCERPT)
Act 284 of 1972
450.1777 Definitions; C, D.
Sec. 777.
(1) Common stock means any stock other than preferred or preference stock.
(2) Control , controlling , controlled by , or under common control with means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract, or otherwise. The beneficial ownership of 10% or more of the voting shares of a corporation shall create a presumption of control.
(3) Determination date means the date on which an interested shareholder first became an interested shareholder.
History: Add. 1984, Act 115, Imd. Eff. May 29, 1984
Disclaimer: These codes may not be the most recent version. Michigan may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
