Section 450.2101 – Short Title.
450.2101 Short title. Sec. 101. This act shall be known and may be cited as the “nonprofit corporation act”. History: 1982, Act 162, Eff. Jan. 1, 1983
Section 450.2103 – Construction and Application of Act.
450.2103 Construction and application of act. Sec. 103. This act shall be liberally construed and applied to promote its underlying purposes and policies which include all of the following: (a) To simplify, clarify, and modernize the law governing nonprofit corporations. (b) To provide a general corporate form for the conduct or promotion of lawful nonprofit […]
Section 450.2104 – Definitions Generally.
450.2104 Definitions generally. Sec. 104. The definitions contained in sections 105 to 110 shall control the interpretation of this act, unless the context otherwise requires. History: 1982, Act 162, Eff. Jan. 1, 1983 ;– Am. 2014, Act 557, Imd. Eff. Jan. 15, 2015
Section 450.2105 – Definitions; A, B.
450.2105 Definitions; A, B. Sec. 105. (1) “Administrator” means the director of the department or his or her designated representative. (2) “Articles of incorporation” includes any of the following: (a) The original articles of incorporation or any other instrument filed or issued under any statute to organize a domestic or foreign corporation, as amended, supplemented, […]
Section 450.2106 – Definitions; C to E.
450.2106 Definitions; C to E. Sec. 106. (1) “Charitable purpose corporation” means a domestic corporation that meets any of the following: (a) Is recognized by the United States internal revenue service as exempt or qualifies for exemption under section 501(c)(3) of the internal revenue code of 1986, 26 USC 501. (b) Is a corporation whose […]
Section 450.2107 – Definitions; F.
450.2107 Definitions; F. Sec. 107. (1) “Foreign business corporation” means a corporation for profit that is formed under laws other than the laws of this state, that includes in its purposes a purpose for which a corporation may be formed under the business corporation act. (2) “Foreign corporation” means a nonprofit corporation formed under laws […]
Section 450.2108 – Definitions; M to P.
450.2108 Definitions; M to P. Sec. 108. (1) “Member” means a person that has a membership in a corporation in accordance with the provisions of its articles of incorporation or bylaws. (2) “Nonprofit corporation” means a corporation incorporated to carry out any lawful purpose or purposes that does not involve pecuniary profit or gain for […]
Section 450.2109 – Definitions; S.
450.2109 Definitions; S. Sec. 109. (1) “Shareholder” means a person that holds shares of a domestic corporation, foreign corporation, domestic business corporation, or foreign business corporation. (2) “Shares” means the units into which interests of shareholders in a domestic corporation, foreign corporation, domestic business corporation, or foreign business corporation are divided. (3) “Services in a […]
Section 450.2110 – Definitions; V.
450.2110 Definitions; V. Sec. 110. (1) “Volunteer” means an individual who performs services for a corporation, other than services as a volunteer director, who does not receive compensation or any other type of consideration for the services other than reimbursement for expenses actually incurred. (2) “Volunteer director” means a director who does not receive anything […]
Section 450.2121 – Corporations to Which Act Applicable; Corporation Formed Under Predecessor Act.
450.2121 Corporations to which act applicable; corporation formed under predecessor act. Sec. 121. (1) Except as otherwise provided in this act or by other law, this act applies to all of the following: (a) Every domestic corporation formed under this act or under a predecessor act, for a purpose or purposes for which a corporation […]
Section 450.2122 – Statutory Reference to Repealed Act as Reference to This Act; Statutes Inapplicable to Domestic Corporation; Uniform Voidable Transactions Act Inapplicable to Distributions.
450.2122 Statutory reference to repealed act as reference to this act; statutes inapplicable to domestic corporation; uniform voidable transactions act inapplicable to distributions. Sec. 122. (1) A reference in any statute of this state to parts of any act that are repealed by this act is considered to be a reference to this act, unless […]
Section 450.2123 – Applicability to Corporation Formed Under Other Act Not Repealed by This Act; Organizations to Which Act Inapplicable.
450.2123 Applicability to corporation formed under other act not repealed by this act; organizations to which act inapplicable. Sec. 123. (1) Subject to subsection (3), unless otherwise provided in, and to the extent not inconsistent with, the act under which a corporation is or has been formed, this act applies to a corporation that is […]
Section 450.2124 – Requirements of Other Acts Not Modified; Compliance; Inconsistency Between Acts.
450.2124 Requirements of other acts not modified; compliance; inconsistency between acts. Sec. 124. (1) This act does not modify the requirements of the following: (a) The supervision of trustees for charitable purposes act, 1961 PA 101, MCL 14.251 to 14.266. (b) 1965 PA 169, MCL 450.251 to 450.253. (c) The charitable organizations and solicitations act, […]
Section 450.2125 – Applicability to Commerce With Foreign Nations and Among Several States, and to Corporations Formed by Act of Congress.
450.2125 Applicability to commerce with foreign nations and among several states, and to corporations formed by act of congress. Sec. 125. This act applies to commerce with foreign nations and among the several states and to corporations formed by or under any act of congress, only to the extent permitted under the constitution and laws […]
Section 450.2127 – Effect of Act on Existing Corporation, Cause of Action, Liability, Penalty, Action, or Special Proceeding.
450.2127 Effect of act on existing corporation, cause of action, liability, penalty, action, or special proceeding. Sec. 127. (1) Except as provided in section 261(3), this act does not affect the duration of a corporation which exists on the effective date of this act. An existing corporation and its shareholders, members, directors, and officers have […]
Section 450.2129 – Supplementation, Alteration, Amendment, or Repeal of Act by Legislature.
450.2129 Supplementation, alteration, amendment, or repeal of act by legislature. Sec. 129. This act may be supplemented, altered, amended, or repealed by the legislature and every corporation, domestic or foreign, to which this act applies is bound thereby. History: 1982, Act 162, Eff. Jan. 1, 1983
Section 450.2131 – Submission of Documents; Delivery; Endorsement; Indexing; Returning Copy or Original; Public Inspection; Maintenance of Records and Files; Reproductions; Effective Date of Document; Fees.
450.2131 Submission of documents; delivery; endorsement; indexing; returning copy or original; public inspection; maintenance of records and files; reproductions; effective date of document; fees. Sec. 131. (1) A document required or permitted to be filed under this act shall be submitted by delivering the document to the administrator together with the fees and accompanying documents […]
Section 450.2132 – English Language; Signatures; Contents of Documents.
450.2132 English language; signatures; contents of documents. Sec. 132. (1) A document filed with the administrator shall be in the English language, except that the corporate name need not be in the English language if written in English letters or Arabic or Roman numerals. (2) A document required or permitted to be filed under this […]
Section 450.2133 – Correction of Document; Certificate; Effective Date of Corrected Document.
450.2133 Correction of document; certificate; effective date of corrected document. Sec. 133. If a document relating to a domestic or foreign corporation that is filed with the administrator under this act was at the time of filing an inaccurate record of the corporation action referred to in the document or was defectively or erroneously executed, […]
Section 450.2141 – Taking Action Without Notice and Without Lapse of Prescribed Period of Time; Waiver.
450.2141 Taking action without notice and without lapse of prescribed period of time; waiver. Sec. 141. If, under this act or the articles of incorporation or bylaws of a corporation or by the terms of an agreement or instrument, a corporation or the board or any committee of the board may take action after notice […]