State Codes and Statutes
Statutes > Michigan > Chapter-450 > Act-284-of-1972 > 284-1972-1 > Section-450-1109BUSINESS CORPORATION ACT (EXCERPT)
Act 284 of 1972
450.1109 Definitions; S.
Sec. 109.
(1) “Shareholder” means a person holding units of proprietary interest in a corporation and is considered to be synonymous with “member” in a nonstock corporation.
(2) “Shares” means the units into which proprietary interests in a corporation are divided and is considered to be synonymous with “membership” in a nonstock corporation.
History: 1972, Act 284, Eff. Jan. 1, 1973 ;-- Am. 1973, Act 98, Imd. Eff. Aug. 8, 1973 ;-- Am. 1989, Act 121, Eff. Oct. 1, 1989 ;-- Am. 1993, Act 91, Eff. Oct. 1, 1993
