Michigan Authorization to purchase corporation's outstanding common stock

State:
Multi-State
Control #:
US-CC-4-105
Format:
Word; 
Rich Text
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This is a multi-state form covering the subject matter of the title.
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FAQ

AN ACT to provide for the organization and regulation of corporations; to prescribe their duties, rights, powers, immunities and liabilities; to provide for the authorization of foreign corporations within this state; to prescribe the functions of the administrator of this act; to prescribe penalties for violations of ...

Corporate bylaws are guidelines for the way you'll structure and run your corporation. Bylaws are required in most states. Even when they're not required, bylaws are useful because they avoid uncertainty and ensure you're complying with legal formalities.

The bylaws of a company are the internal rules that govern how a business is run. They're set out in a formal written document adopted by a corporation's board of directors and summarize important procedures related to decision-making and voting.

An ?all purpose clause? is a statement that the purpose is to engage in any lawful activity within the purposes for which corporations may be organized.

Sec. 531. (1) The officers of a corporation shall consist of a president, secretary, treasurer, and, if desired, a chairman of the board, 1 or more vice-presidents, and such other officers as may be prescribed by the bylaws or determined by the board.

Corporate bylaws are required in Michigan. ing to MI Comp L § 450.1231, ?the initial bylaws of a corporation shall be adopted? at the first organizational meeting following incorporation. In other words, bylaws are legally necessary to form a corporation in Michigan.

Under the General Corporation Act of Michigan,8 it is provided that the books of the corporation shall be kept so as clearly to indicate the cumulative effect of purchases of treasury stock, either by showing the cost of such respective purchases as a deduction from sur- plus or by classifying the surplus account in ...

AN ACT to provide for the organization and regulation of corporations; to prescribe their duties, rights, powers, immunities and liabilities; to provide for the authorization of foreign corporations within this state; to prescribe the functions of the administrator of this act; to prescribe penalties for violations of ...

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Michigan Authorization to purchase corporation's outstanding common stock