STATE STATUTES & CODES
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
MICHIGAN STATUTES AND CODES
Section 450.2422 - Irrevocable proxy.
Act 162 of 1982
450.2422 Irrevocable proxy.
Sec. 422.
A proxy which is entitled “irrevocable proxy”, and which states that it is irrevocable, is irrevocable when it is held by any of the following or a nominee of any of the following:
(a) In the case of shares or memberships which are transferable, a pledgee.
(b) In the case of shares or memberships which are transferable, a person who has purchased or agreed to purchase the shares or members.
(c) A creditor of the corporation who extends or continues credit to the corporation in consideration of the proxy.
(d) A person who has contracted to perform services as a director, officer, or employee of the corporation, if a proxy is required by the contract of employment.
(e) A holder of any other proxy coupled with an interest.
(f) A person designated by or under an agreement under section 461.
History: 1982, Act 162, Eff. Jan. 1, 1983