450.100 Cooperative corporations; shares of stock, contents.
177 words·~1 min read·
/mi/chapter-450/450-100A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
450.100 Cooperative corporations; shares of stock, contents.
Sec. 100.
Same; contents of certificates of stock. There shall be printed upon each share of stock issued by co-operative corporations a condensed statement of every article or by-law which in anywise limits the shareholders' right to assign or transfer such shares or to vote the total number of shares held at meetings of the corporation, or which forbids voting by proxy.
The provisions of the uniform stock transfer law of this state shall not be held to apply to the shares of stock of such co-operative corporations in any manner or to any extent inconsistent with the provisions of sections 98 to 116, both inclusive, of this act.
History: 1931, Act 327, Eff. Sept. 18, 1931 ;-- CL 1948, 450.100
Compiler's Notes: The catchline following the act section number was incorporated as part of the section when the act was enacted.
Former Law: See section 3 of Ch. IV of Part II of Act 84 of 1921, as amended by Act 267 of 1929, being CL 1929, § 10029.