Section 450.2615 - Voting as class upon proposed amendment. - Michigan Statutes

NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982

450.2615 Voting as class upon proposed amendment.

Sec. 615.

The holders of the outstanding shares or the member of a class may vote as a class upon a proposed amendment, whether or not entitled to vote thereon by the articles of incorporation, if the amendment would increase or decrease the aggregate number of authorized shares of the class or alter or change the powers, preferences, or special rights of the shares or members of the class or other classes so as to affect the class adversely.

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