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Michigan Compiled Laws, Chapter 450. Corporations § 450.1811

Current as of February 09, 2022 | Updated by FindLaw Staff

Sec. 811. (1) Dissolution proceedings commenced pursuant to section 488 or 804  1 may be revoked before complete distribution of assets, if a proceeding pursuant to section 851  2 is not pending, by filing a certificate of revocation executed, in person or by proxy, by all the shareholders, stating that revocation is effective pursuant to this section and that all the shareholders of the corporation have executed the certificate in person or by proxy.

(2) Dissolution proceedings commenced pursuant to section 804 may also be revoked before complete distribution of assets, if a proceeding pursuant to section 851 is not pending, in the following manner:

(a) The board of directors shall adopt a resolution revoking the dissolution. The proposed revocation shall be submitted for approval at a meeting of shareholders. The shareholders shall be given the same notice of the meeting and the revocation shall be approved by the same vote as required by section 804 for the approval of dissolution.

(b) A certificate of revocation, stating that dissolution is revoked pursuant to this section, and giving the information required by section 804(7), shall be executed and filed on behalf of the corporation.

1 M.C.L.A. § 450.1488 or 450.1804.
2 M.C.L.A. § 450.1851.
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Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 450. Corporations § 450.1811 - last updated February 09, 2022 | https://codes.findlaw.com/mi/chapter-450-corporations/mi-comp-laws-450-1811/

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