450.1332 Share certificates; contents.
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450.1332 Share certificates; contents.
Sec. 332.
(1)A certificate representing shares shall state upon its face all of the following:
(a)That the corporation is formed under the laws of this state.
(b)The name of the person to whom issued.
(c)The number and class of shares, and the designation of the series, if any, which the certificate represents.
(2)A certificate representing shares issued by a corporation which is authorized to issue shares of more than 1 class shall set forth on its face or back or state on its face or back that the corporation will furnish to a shareholder upon request and without charge a full statement of the designation, relative rights, preferences, and limitations of the shares of each class authorized to be issued, and if the corporation is authorized to issue any class of shares in series, the designation, relative rights, preferences, and limitations of each series so far as the same have been prescribed and the authority of the board to designate and prescribe the relative rights, preferences, and limitations of other series.
History: 1972, Act 284, Eff. Jan. 1, 1973 ;-- Am. 1973, Act 98, Imd. Eff. Aug. 8, 1973 ;-- Am. 1989, Act 121, Eff. Oct. 1, 1989