2014 Michigan Compiled Laws
Chapter 450 - CORPORATIONS
Act 162 of 1982 NONPROFIT CORPORATION ACT (450.2101 - 450.3192)
162-1982-4 CHAPTER 4 (450.2401...450.2493)
Section 450.2442 Voting as class.


MI Comp L § 450.2442 (2014) What's This?

NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982
450.2442 Voting as class.

Sec. 442.

(1) The articles of incorporation may provide that a class of shares or members shall vote as a class to authorize any action, including amendment to the articles. Such voting as a class shall be in addition to any other vote required by this act. Where voting as a class is provided in the articles, it shall be by the proportionate vote provided in the articles or, if a proportionate vote is not so provided, then for any action other than the election of directors, by a majority of the votes cast by the holders of shares or members of such class entitled to vote thereon.

(2) Where voting as a class is required by this act to authorize an action, the action shall be authorized by a majority of the votes cast by the holders of shares or members of each class entitled to vote thereon, unless a greater vote is required by the articles of incorporation or another section of this act. The voting as a class shall be in addition to any other vote required by this act.


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


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