Mich. Comp. Laws § 450.1493a
Commencement of derivative proceeding by shareholder; criteria.
Michigan · Michigan Compiled Laws — BUSINESS CORPORATION ACT (Act 284 of 1972) · Status: effective
Cite this
- Citation
- Mich. Comp. Laws § 450.1493a, Commencement of derivative proceeding by shareholder; criteria, Michigan, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1363688
- Permanent ID
ys:prov:1363688@1- SHA-256
b4d2cbb4b64c68bb62c88174a1a30050451778d4c046733e33aad34040d151c2
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
A shareholder may not commence a derivative proceeding until all of the following have occurred:
(a) A written demand has been made upon the corporation to take suitable action.
(b) Ninety days have expired from the date the demand was made unless the shareholder has earlier been notified that the demand has been rejected by the corporation or unless irreparable injury to the corporation would result by waiting for the expiration of the 90-day period.