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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 450.1494 Stay of Derivative Proceeding; Condition.
Universal Citation: MI Comp L § 450.1494 (2019)
450.1494 Stay of derivative proceeding; condition.
Sec. 494.
If the corporation commences an investigation of the allegations made in the demand or complaint, the court may stay any derivative proceeding for a period as the court considers appropriate.
History: Add. 1989, Act 121, Eff. Oct. 1, 1989
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