reglab/housing_qa huggingface dataset:
MI Comp L § 450.1334 (2021)
2021 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 450.1334 - Share Certificates; Loss or Destruction; Bond.

450.1334 Share certificates; loss or destruction; bond. Sec. 334.  A corporation may issue a new certificate for shares or fractional shares in place of a certificate theretofore issued by it, alleged to have been lost or destroyed, and the board may require the owner of the lost or destroyed certificate, or his legal representative, to give the corporation a bond sufficient to indemnify the corporation against any claim that may be made against it on account of the alleged lost or destroyed certificate or the issuance of such a new certificate. History: 1972, Act 284, Eff. Jan. 1, 1973
MI Comp L § 450.1335 (2021)
2021 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- 450.2099)|284-1972-3 - Chapter 3 Capital Structure and Corporate Finance (450.1301...450.1392)|Section 450.1335 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

450.1335 Repealed. 1989, Act 121, Eff. Oct. 1, 1989. Compiler's Notes: The repealed section pertained to shares or securities listed on national securities exchange.
MI Comp L § 450.1336 (2021)
2021 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 450.1336 - Issuance or Transfer of Shares Without Certificates; Statement.

450.1336 Issuance or transfer of shares without certificates; statement. Sec. 336.  (1) Unless the articles of incorporation or bylaws provide otherwise, the board may authorize the issuance of some or all of the shares of any or all of its classes or series without certificates. The authorization does not affect shares already represented by certificates until the certificates are surrendered to a corporation.  (2) Within a reasonable time after the issuance or transfer of shares without certificates, the corporation shall send the shareholder a written statement of the information required on certificates under section 332 and, if applicable, sections 472 and 488. History: Add. 1989, Act 121, Eff. Oct. 1, 1989 ;-- Am. 1997, Act 118, Imd. Eff. Oct. 24, 1997
MI Comp L § 450.1338 (2021)
2021 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 450.1338 - Fractions of Share or Scrip.

450.1338 Fractions of share or scrip. Sec. 338.  (1) A corporation may issue fractions of shares and may do 1 of the following:  (a) Issue certificates for fractions of shares that entitle the holders to exercise voting rights and to receive dividends and distributions in proportion to their fractional holdings.  (b) Pay in cash the fair value of fractions of shares as of the time when those entitled to receive the fractions are determined.  (c) Issue scrip in registered or bearer form over the manual or facsimile signature of an officer of the corporation or of its agent, exchangeable as provided in the scrip for full shares. The scrip shall not entitle the holder to any right of a shareholder except as provided in the scrip. The scrip shall be issued subject to the condition that it becomes void if not exchanged for certificates representing full shares before a specified date. The scrip may be subject to the condition that the shares for which the scrip is exchangeable may be sold by the corporation and the proceeds of the sale distributed to the holders of the scrip, or subject to any other condition that the board may determine.  (2) A corporation may provide reasonable opportunity for persons entitled to fractions of a share or scrip to sell them or to purchase additional fractions of a share or scrip needed to acquire a full share. History: 1972, Act 284, Eff. Jan. 1, 1973 ;-- Am. 1993, Act 91, Eff. Oct. 1, 1993 ;-- Am. 2001, Act 57, Imd. Eff. July 23, 2001
MI Comp L § 450.1341 (2021)
2021 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 450.1341 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

450.1341 Repealed. 1989, Act 121, Eff. Oct. 1, 1989. Compiler's Notes: The repealed section pertained to consideration for shares as capital or capital surplus.
MI Comp L § 450.1341a (2021)
2021 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 450.1341a - Issuance of Shares Pro Rata and Without Consideration; Share Dividend.

450.1341a Issuance of shares pro rata and without consideration; share dividend. Sec. 341a.  (1) Unless the articles of incorporation provide otherwise, shares may be issued pro rata and without consideration to the corporation's shareholders or to the shareholders of 1 or more classes or series. An issuance of shares under this subsection is a share dividend.  (2) Shares of 1 class or series may not be issued as a share dividend in respect of shares of another class or series unless the articles so authorize, a majority of the votes entitled to be cast by the class or series to be issued approve the issue, or there are no outstanding shares of the class or series to be issued. History: Add. 1989, Act 121, Eff. Oct. 1, 1989
MI Comp L § 450.1342 (2021)
2021 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 450.1342 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

450.1342 Repealed. 1989, Act 121, Eff. Oct. 1, 1989. Compiler's Notes: The repealed section pertained to earned surplus and transfer of surplus.
MI Comp L § 450.1342a (2021)
2021 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 450.1342a - Rights, Options, or Warrants.

450.1342a Rights, options, or warrants. Sec. 342a.  (1) A corporation may issue rights, options, or warrants for the purchase of shares or other securities of the corporation. The board shall determine the terms upon which the rights, options, or warrants are issued, their form and content, and the consideration for which the shares are to be issued.  (2) The terms and conditions of any right, option, or warrant issued under subsection (1), including those outstanding on the effective date of the amendatory act that added this subsection, may include, without limitation, restrictions or conditions that preclude or limit the exercise, transfer, or receipt of the right, option, or warrant by any person owning or offering to acquire a specified number or percentage of the outstanding common shares or other securities of a corporation, or any transferee or transferees of that person, or that invalidate or void the right, option, or warrant held by a person or his or her transferee. History: Add. 1989, Act 121, Eff. Oct. 1, 1989 ;-- Am. 2001, Act 57, Imd. Eff. July 23, 2001
MI Comp L § 450.1344 (2021)
2021 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 450.1344 - Acquisition of Own Shares by Corporation; Shares as Authorized but Unissued; Reducing Number of Authorized Shares if Reissuance Prohibited; Restriction on Acquisition.

450.1344 Acquisition of own shares by corporation; shares as authorized but unissued; reducing number of authorized shares if reissuance prohibited; restriction on acquisition. Sec. 344.  (1) Subject to restrictions imposed by this act or the articles of incorporation, a corporation may acquire its own shares and those shares constitute authorized but unissued shares, except as provided in subsection (4).  (2) If the articles of incorporation prohibit reissue of any shares acquired pursuant to subsection (1), the board, by resolution, shall adopt and file an amendment of the articles of incorporation reducing the number of authorized shares accordingly.  (3) A corporation shall not acquire its own shares by purchase, redemption, or otherwise unless after the acquisition there remain outstanding shares possessing, collectively, voting rights and unlimited rights to receive assets in dissolution.  (4) A corporation that acquires its own shares may grant a security interest in the shares as security for the payment of the purchase price of the shares. Any shares acquired by the corporation in which it has granted a security interest are not canceled and do not constitute authorized but unissued shares until the corporation pays the purchase price. If the corporation has granted a security interest in the shares, the shares shall not be voted directly or indirectly and shall not be counted in determining the total number of issued shares entitled to vote at any given time, except to the extent provided by the agreement creating the security interest in the event of default. Upon payment of the purchase price, the shares shall be canceled and constitute authorized but unissued shares. If the articles of incorporation prohibit reissue of canceled shares, then the amendment required by subsection (2) shall be filed. History: Add. 1989, Act 121, Eff. Oct. 1, 1989 ;-- Am. 1993, Act 91, Eff. Oct. 1, 1993 ;-- Am. 1997, Act 118, Imd. Eff. Oct. 24, 1997 ;-- Am. 2001, Act 57, Imd. Eff. July 23, 2001
MI Comp L § 450.1351-450.1367 (2021)
2021 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 450.1351-450.1367 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

450.1351-450.1367 Repealed. 1989, Act 121, Eff. Oct. 1, 1989. Compiler's Notes: The repealed sections pertained to dividends, purchase, or redemption of shares.
MI Comp L § 450.1368 (2021)
2021 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 450.1368 - Repealed. 1997, Act 118, Imd. Eff. Oct. 24, 1997.

450.1368 Repealed. 1997, Act 118, Imd. Eff. Oct. 24, 1997. Compiler's Notes: The repealed section pertained to purchase by corporation of shares listed on national securities exchange from certain persons.
MI Comp L § 450.1371-450.1381 (2021)
2021 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 450.1371-450.1381 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

450.1371-450.1381 Repealed. 1989, Act 121, Eff. Oct. 1, 1989. Compiler's Notes: The repealed sections pertained to cancellation or retention of shares, and reduction of stated capital.
MI Comp L § 450.1391 (2021)
2021 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 450.1391 - Inspection and Voting Rights of Bondholders; Facsimile Signatures.

450.1391 Inspection and voting rights of bondholders; facsimile signatures. Sec. 391.  (1) A corporation, in its articles of incorporation, may confer upon the holders of bonds issued or to be issued by it, rights to inspect the corporate books and records and to vote in the election of directors and on any other matters on which shareholders of the corporation may vote to the extent, in the manner, and subject to the conditions prescribed in the articles. The articles may grant to the board the power to confer such voting or inspection rights under the terms of any bonds issued or to be issued by the corporation.  (2) The signatures of the officers upon a bond may be facsimiles. History: 1972, Act 284, Eff. Jan. 1, 1973
MI Comp L § 450.1392 (2021)
2021 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 450.1392 - Chapter Inapplicable to Distributions in Dissolution.

450.1392 Chapter inapplicable to distributions in dissolution. Sec. 392.  This chapter shall not apply to distributions in dissolution under chapter 8. History: Add. 1989, Act 121, Eff. Oct. 1, 1989
MI Comp L § 450.1401 (2021)
2021 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 450.1401 - Meetings of Shareholders; Place.

450.1401 Meetings of shareholders; place. Sec. 401.  Meetings of shareholders may be held at a place within or without this state as provided in the bylaws. In the absence of such a provision, meetings shall be held at the registered office or such other place as may be determined by the board. History: 1972, Act 284, Eff. Jan. 1, 1973
MI Comp L § 450.1402 (2021)
2021 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 450.1402 - Annual Meeting of Shareholders.

450.1402 Annual meeting of shareholders. Sec. 402.  An annual meeting of shareholders for election of directors and for such other business as may come before the meeting shall be held at a time as provided in the bylaws, unless such action is taken by written consent as provided in section 407. Failure to hold the annual meeting at the designated time, or to elect a sufficient number of directors at the meeting or any adjournment thereof, does not affect otherwise valid corporate acts or work a forfeiture or give cause for dissolution of the corporation, except as provided in section 823. If the annual meeting is not held on the date designated therefor, the board shall cause the meeting to be held as soon thereafter as convenient. If the annual meeting is not held for 90 days after the date designated therefor, or if no date has been designated for 15 months after organization of the corporation or after its last annual meeting, the circuit court of the county in which the principal place of business or registered office of the corporation is located, upon application of a shareholder, may summarily order the meeting or the election, or both, to be held at such time and place, upon such notice and for the transaction of such business as may be designated in the order. At any such meeting ordered to be called by the court, the shareholders present in person or by proxy and having voting powers constitute a quorum for transaction of the business designated in the order. History: 1972, Act 284, Eff. Jan. 1, 1973 ;-- Am. 1993, Act 91, Eff. Oct. 1, 1993
MI Comp L § 450.1403 (2021)
2021 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 450.1403 - Special Meeting of Shareholders.

450.1403 Special meeting of shareholders. Sec. 403.  A special meeting of shareholders may be called by the board, or by officers, directors or shareholders as provided in the bylaws. Notwithstanding any such provision, upon application of the holders of not less than 10% of all the shares entitled to vote at a meeting, the circuit court of the county in which the principal place of business or registered office is located, for good cause shown, may order a special meeting of shareholders to be called and held at such time and place, upon such notice and for the transaction of such business as may be designated in the order. At any such meeting ordered to be called by the court, the shareholders present in person or by proxy and having voting powers constitute a quorum for transaction of the business designated in the order. History: 1972, Act 284, Eff. Jan. 1, 1973 ;-- Am. 1993, Act 91, Eff. Oct. 1, 1993
MI Comp L § 450.1404 (2021)
2021 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 450.1404 - Meetings of Shareholders; Notice; Adjournment; Result of Shareholder's Attendance at Meeting.

450.1404 Meetings of shareholders; notice; adjournment; result of shareholder's attendance at meeting. Sec. 404.  (1) Except as otherwise provided in this act, written notice of the time, place if any, and purposes of a meeting of shareholders shall be given not less than 10 nor more than 60 days before the date of the meeting to each shareholder of record entitled to vote at the meeting. Notice may be given personally, by mail, or by electronic transmission. If a shareholder or proxy holder may be present and vote at the meeting by remote communication, the means of remote communication allowed shall be included in the notice.  (2) Unless the corporation has securities registered under section 12 of title I of the securities exchange act of 1934, chapter 404, 48 Stat. 892, 15 U.S.C. 78l, notice of the purposes of a meeting shall include notice of shareholder proposals that are proper subjects for shareholder action and are intended to be presented by shareholders who have notified the corporation in writing of their intention to present the proposals at the meeting. The bylaws may establish reasonable procedures for the submission of proposals to the corporation in advance of the meeting.  (3) If a meeting is adjourned to another time or place, it is not necessary, unless the bylaws otherwise provide, to give notice of the adjourned meeting if the time, and place if any, to which the meeting is adjourned are announced at the meeting at which the adjournment is taken. A shareholder or proxy holder may be present and vote at the adjourned meeting by a means of remote communication if he or she was permitted to be present and vote by that means of remote communication in the original meeting notice. At the adjourned meeting, only business that might have been transacted at the original meeting may be transacted if a notice of the adjourned meeting is not given. If after the adjournment the board fixes a new record date for the adjourned meeting, a notice of the adjourned meeting shall be given to each shareholder of record on the new record date entitled to notice under subsection (1).  (4) A shareholder's attendance at a meeting will result in both of the following:  (a) Waiver of objection to lack of notice or defective notice of the meeting, unless the shareholder at the beginning of the meeting objects to holding the meeting or transacting business at the meeting.  (b) Waiver of objection to consideration of a particular matter at the meeting that is not within the purpose or purposes described in the meeting notice, unless the shareholder objects to considering the matter when it is presented. History: 1972, Act 284, Eff. Jan. 1, 1973 ;-- Am. 1989, Act 121, Eff. Oct. 1, 1989 ;-- Am. 1997, Act 118, Imd. Eff. Oct. 24, 1997 ;-- Am. 2001, Act 57, Imd. Eff. July 23, 2001
MI Comp L § 450.1405 (2021)
2021 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 450.1405 - Participating in Meeting of Shareholders by Conference Telephone or Remote Communications.

450.1405 Participating in meeting of shareholders by conference telephone or remote communications.Sec. 405.  (1) Unless otherwise restricted by the articles of incorporation or bylaws, a shareholder may participate in a meeting of shareholders by a conference telephone or by other means of remote communication if all of the following are met:  (a) The use of the means of remote communication is authorized by the board of directors in its sole discretion.  (b) The means of remote communication meet the requirements of subsection (4).  (c) All participants are advised of the means, if any, of remote communication.   (2) Participation in a meeting under this section constitutes presence in person at the meeting.  (3) Unless otherwise restricted by the articles of incorporation or bylaws, the board of directors may hold a meeting of shareholders conducted solely by means of remote communication.  (4) If authorized by the board of directors in its sole discretion, and subject to any guidelines and procedures adopted by the board of directors, shareholders and proxy holders that are not physically present at a meeting of shareholders may participate in the meeting by means of remote communication and are considered present in person and may vote at the meeting if all of the following are met:  (a) The corporation implements reasonable measures to verify that each person considered present and permitted to vote at the meeting by means of remote communication is a shareholder or proxy holder.  (b) The corporation implements reasonable measures to provide each shareholder and proxy holder a reasonable opportunity to participate in the meeting and to vote on matters submitted to the shareholders, including an opportunity to read or hear the proceedings of the meeting substantially concurrently with the proceedings.  (c) If any shareholder or proxy holder votes or takes other action at the meeting by means of remote communication, a record of the vote or other action is maintained by the corporation. History: Add. 1978, Act 32, Imd. Eff. Feb. 24, 1978 ;-- Am. 1989, Act 121, Eff. Oct. 1, 1989 ;-- Am. 2001, Act 57, Imd. Eff. July 23, 2001 ;-- Am. 2012, Act 569, Imd. Eff. Jan. 2, 2013 ;-- Am. 2018, Act 85, Eff. June 24, 2018
MI Comp L § 450.1406 (2021)
2021 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 450.1406 - Meeting of Shareholders; Duties of Chairperson.

450.1406 Meeting of shareholders; duties of chairperson. Sec. 406.  (1) At each meeting of shareholders, a chairperson shall preside. The chairperson shall be appointed as provided in the bylaws or, in the absence of a provision in the bylaws, by the board of directors.  (2) The chairperson, unless the articles of incorporation or bylaws provide otherwise, shall determine the order of business and shall have the authority to establish rules for the conduct of the meeting. Any rules adopted for, and the conduct of, the meeting shall be fair to shareholders.  (3) The chairperson of the meeting shall announce at the meeting when the polls close for each matter voted upon. If no announcement is made, the polls shall close upon the final adjournment of the meeting. After the polls close, no ballots, proxies, or votes nor any revocations or changes to ballots, proxies, or votes may be accepted. History: Add. 1997, Act 118, Imd. Eff. Oct. 24, 1997
MI Comp L § 450.1406a (2021)
2021 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 450.1406a - Electronic Transmission as Notice; Consent.

450.1406a Electronic transmission as notice; consent. Sec. 406a.  In addition to any other form of notice to a shareholder permitted by the articles of incorporation, the bylaws, or this chapter, any notice given to a shareholder by a form of electronic transmission to which the shareholder has consented is effective. History: Add. 2001, Act 57, Imd. Eff. July 23, 2001