Mich. Comp. Laws § 450.1770
Return of deposited certificates and release of transfer restrictions; effect of corporation taking proposed action.
Michigan · Michigan Compiled Laws — BUSINESS CORPORATION ACT (Act 284 of 1972) · Status: effective
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- Citation
- Mich. Comp. Laws § 450.1770, Return of deposited certificates and release of transfer restrictions; effect of corporation taking proposed action, Michigan, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1363770
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Full text
(1) If the corporation does not take the proposed action within 60 days after the date set for demanding payment and depositing share certificates, the corporation shall return the deposited certificates and release the transfer restrictions imposed on shares without certificates.
(2) If after returning deposited certificates and releasing transfer restrictions, the corporation takes the proposed action, it must send a new dissenters' notice under section 766 and repeat the payment demand procedure.