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Code · Michigan · Chapter 450 — Corporations

450.1494 Stay of derivative proceeding; condition.

47 words·~1 min read·/mi/chapter-450/450-1494

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450.1494 Stay of derivative proceeding; condition.
Sec. 494.
If the corporation commences an investigation of the allegations made in the demand or complaint, the court may stay any derivative proceeding for a period as the court considers appropriate.
History: Add. 1989, Act 121, Eff. Oct. 1, 1989
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