Michigan Laws 450.1779 – Definitions; V
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(1) “Valuation date” means:
(a) In a business combination voted upon by shareholders, the day prior to the date of the shareholders vote or the day which is 20 calendar days prior to the consummation of the business combination, whichever is later.
Terms Used In Michigan Laws 450.1779
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(b) In a business combination not voted upon by shareholders, the date of the consummation of the business combination.
(2) “Voting shares” means those shares of a corporation entitled to vote generally in the election of directors.