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2019 Michigan Compiled Laws
Chapter 450 - Corporations
Act 284 of 1972 Business Corporation Act (450.1101 - 450.2099)
284-1972-4 Chapter 4 Shareholders (450.1401...450.1497)
Section 450.1448 Voting of Redeemable Shares.
Universal Citation: MI Comp L § 450.1448 (2019)
450.1448 Voting of redeemable shares.
Sec. 448.
After written notice of redemption of redeemable shares has been mailed to the holders thereof and a sum sufficient to redeem the shares has been deposited with a bank or trust company with irrevocable instruction and authority to pay the redemption price to the holders thereof upon surrender of certificates therefor, the shares shall not be voted on any matter nor deemed to be outstanding shares.
History: 1972, Act 284, Eff. Jan. 1, 1973
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