Section 450.2442 - Voting as class. - Michigan Statutes

State Codes and Statutes

Statutes > Michigan > Chapter-450 > Act-162-of-1982 > 162-1982-4 > Section-450-2442

NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982

450.2442 Voting as class.

Sec. 442.

(1) The articles of incorporation may provide that a class of shares or members shall vote as a class to authorize any action, including amendment to the articles. Such voting as a class shall be in addition to any other vote required by this act. Where voting as a class is provided in the articles, it shall be by the proportionate vote provided in the articles or, if a proportionate vote is not so provided, then for any action other than the election of directors, by a majority of the votes cast by the holders of shares or members of such class entitled to vote thereon.

(2) Where voting as a class is required by this act to authorize an action, the action shall be authorized by a majority of the votes cast by the holders of shares or members of each class entitled to vote thereon, unless a greater vote is required by the articles of incorporation or another section of this act. The voting as a class shall be in addition to any other vote required by this act.

History: 1982, Act 162, Eff. Jan. 1, 1983

State Codes and Statutes

Statutes > Michigan > Chapter-450 > Act-162-of-1982 > 162-1982-4 > Section-450-2442

NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982

450.2442 Voting as class.

Sec. 442.

(1) The articles of incorporation may provide that a class of shares or members shall vote as a class to authorize any action, including amendment to the articles. Such voting as a class shall be in addition to any other vote required by this act. Where voting as a class is provided in the articles, it shall be by the proportionate vote provided in the articles or, if a proportionate vote is not so provided, then for any action other than the election of directors, by a majority of the votes cast by the holders of shares or members of such class entitled to vote thereon.

(2) Where voting as a class is required by this act to authorize an action, the action shall be authorized by a majority of the votes cast by the holders of shares or members of each class entitled to vote thereon, unless a greater vote is required by the articles of incorporation or another section of this act. The voting as a class shall be in addition to any other vote required by this act.

History: 1982, Act 162, Eff. Jan. 1, 1983

State Codes and Statutes

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State Codes and Statutes

Statutes > Michigan > Chapter-450 > Act-162-of-1982 > 162-1982-4 > Section-450-2442

NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982

450.2442 Voting as class.

Sec. 442.

(1) The articles of incorporation may provide that a class of shares or members shall vote as a class to authorize any action, including amendment to the articles. Such voting as a class shall be in addition to any other vote required by this act. Where voting as a class is provided in the articles, it shall be by the proportionate vote provided in the articles or, if a proportionate vote is not so provided, then for any action other than the election of directors, by a majority of the votes cast by the holders of shares or members of such class entitled to vote thereon.

(2) Where voting as a class is required by this act to authorize an action, the action shall be authorized by a majority of the votes cast by the holders of shares or members of each class entitled to vote thereon, unless a greater vote is required by the articles of incorporation or another section of this act. The voting as a class shall be in addition to any other vote required by this act.

History: 1982, Act 162, Eff. Jan. 1, 1983