Michigan Laws 450.2303a – Corporation board organized on stock basis; amendment of articles of incorporation deleting reference to par value
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Michigan Laws 450.2303a
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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.
The board of a corporation that is organized on a stock basis by resolution may adopt and file an amendment of the articles of incorporation deleting any reference to par value.