Section 450.3162 - Distribution of assets generally. - Michigan Statutes

NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982

450.3162 Distribution of assets generally.

Sec. 1162.

In the event of an amendment to the articles or bylaws, merger, consolidation, or disposition of substantially all of the assets of the cooperative, or dissolution, which results in a distribution of all or substantially all of the assets of the corporation to members, the distribution shall be in the manner and order provided in section 1183.

History: Add. 1984, Act 209, Eff. Nov. 1, 1985