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Code · Michigan · Chapter 450 — Corporations

450.3131 Organization on nonstock membership basis.

45 words·~1 min read·/mi/chapter-450/450-3131

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450.3131 Organization on nonstock membership basis.
Sec. 1131.
Notwithstanding section 302, a cooperative organized under this act shall be organized on a nonstock membership basis and shall not be organized on a stock or directorship basis.
History: Add. 1984, Act 209, Eff. Nov. 1, 1985
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