Mich. Comp. Laws § 450.1447a
Voting shares owned by second corporation.
Michigan · Michigan Compiled Laws — BUSINESS CORPORATION ACT (Act 284 of 1972) · Status: effective
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- Citation
- Mich. Comp. Laws § 450.1447a, Voting shares owned by second corporation, Michigan, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1363666
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Full text
Absent an order of a court of competent jurisdiction based upon a determination that special circumstances exist and the best interests of the corporation would be served, the shares of a corporation shall not be voted on any matter or considered to be outstanding shares for any purpose related to voting if they are owned, directly or indirectly, by a second corporation, domestic or foreign, and the first corporation owns, directly or indirectly, a majority of the shares entitled to vote for directors of the second corporation.