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Mich. Comp. Laws § 450.2303d

Shares redeemable in cash, bonds, securities, or other property; prices and conditions.

Michigan · Michigan Compiled Laws — NONPROFIT CORPORATION ACT (Act 162 of 1982) · Status: effective

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Mich. Comp. Laws § 450.2303d, Shares redeemable in cash, bonds, securities, or other property; prices and conditions, Michigan, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1363901
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The articles of incorporation may provide for 1 or more classes of shares that are redeemable, in whole or in part, at the option of the shareholder, or the corporation, or if a specified event occurs. Subject to restrictions imposed in sections 301 and 345, the shares may be redeemable in cash, bonds, securities, or other property at prices, within the periods, and under conditions stated in the articles of incorporation.