Michigan Assignment of Shares
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How to fill out Assignment Of Shares?
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AN ACT to provide for the organization, regulation and classification of corporations; to provide their rights, powers and immunities; to prescribe the conditions on which corporations may exercise their powers; to provide for the inclusion of certain existing corporations within the provisions of this act; to ...
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.
Section 485 of the Michigan Business Corporation Act states that "a corporation shall keep books and records of accounts and minutes of proceedings of its shareholders, board, and executive committee, if any".
Sec. 488. (1) An agreement among the shareholders of a corporation that complies with this section is effective among the shareholders and the corporation even though it is inconsistent with this act in 1 or more of the following ways: (a) It eliminates the board or restricts the discretion or powers of the board.
The Michigan Business Corporation Act identifies businesses that have formed a corporation or domestic corporation under Michigan law. The act applies to all corporations, both foreign and domestic that are allowed to do business in Michigan.
345. (1) A board may authorize and the corporation may make distributions to its shareholders subject to restriction by the articles of incorporation and the limitation in subsection (3).