BUSINESS CORPORATION ACT
Act 284 of 1972
450.1109 Definitions; S.
Sec. 109.
(1) "Services in a learned profession" means services provided to the public by a dentist, an osteopathic physician, a physician, a surgeon, a doctor of divinity or other clergy, or an attorney-at-law. The term does not include services provided to residents of a nursing home, as defined in section 20109 of the public health code, 1978 PA 368, MCL 333.20109, by a dentist, osteopathic physician, physician, or surgeon who is an employee or independent contractor of the nursing home.
(2) "Shareholder" means a person that holds units of proprietary interest in a corporation and is considered to be synonymous with "member" in a nonstock corporation.
(3) "Shares" means the units into which proprietary interests in a corporation are divided and is considered to be synonymous with "membership" in a nonstock corporation.
History: 1972, Act 284, Eff. Jan. 1, 1973 ;-- Am. 1973, Act 98, Imd. Eff. Aug. 8, 1973 ;-- Am. 1989, Act 121, Eff. Oct. 1, 1989 ;-- Am. 1993, Act 91, Eff. Oct. 1, 1993 ;-- Am. 2012, Act 569, Imd. Eff. Jan. 2, 2013 ;-- Am. 2015, Act 158, Eff. Jan. 18, 2016
Notes of Decisions
Cited in
8
cases (
2 in the last 5 years), 2009–2025 · leading case:
Madugula v. Taub, 853 N.W.2d 75 (Mich. 2014).
Madugula v. Taub, 853 N.W.2d 75 (Mich. 2014).
“1461 97 For example, shareholder agreements can modify the method of distributions, establish directors or officers, “govern!] the exercise or division of voting power by or between the shareholders and directors or by or among any of the shareholders or directors, including use…”
Gold v. Winget (In Re NM Holdings Co.), 407 B.R. 232 (Bankr. E.D. Mich. 2009).
“Ann § 450.1109(1). Defendants point to paragraph 15 of the Complaint, which alleges that: Winget, the Corporate Defendants and the Winget Affiliates, and in certain circumstances .”
Blankenship v. Superior Controls, Inc., 135 F. Supp. 3d 608 (E.D. Mich. 2015).
“(2002), MCL 450.1109(1) defines “shareholder” as a “person holding units of proprietary interest in a corporation.”
Meathe v. Ret, 903 F. Supp. 2d 507 (E.D. Mich. 2012).
“§ 450.1109(1) defines shareholder as a “person holding units of proprietary interest in a corporation.”
Mark M. Bello (Bankr. E.D. Mich. 2020).
· cites it 2× “2014) (footnotes omitted) (quoting Mich. Comp. Laws § 450.1109 (2)) (explaining that “[u]nder the [Michigan Business Corporation Act] a shareholder 3 is ‘a person that holds units of proprietary interest in a corporation .”
Loren E Pitsch Jr v. Pitsch Holding Co. Inc (Mich. Ct. App. 2018).
“quoting MCL 450.1109(2). Among the rights shareholders in a corporation have are “the right to vote, inspect -10- the books, and receive distributions.”
Scott Fowler v. Donald Keiper (Mich. Ct. App. 2023).
“, quoting MCL 450.1109(2). Among the rights shareholders have are “the right to vote, inspect the books, and receive distributions.”
Est. of Charles Edwards v. David Edwards (Mich. Ct. App. 2025).
“” MCL 450.1109(2). “Through this interest in the corporation, a shareholder retains certain statutory rights that allow the shareholder to protect and gain from his or her interest as a shareholder, including, but not limited to, the right to vote, inspect the books, and receive…”
— Mich. Comp. Laws § 450.1109(1) — 3 cases
Gold v. Winget (In Re NM Holdings Co.), 407 B.R. 232 (Bankr. E.D. Mich. 2009).
“Ann § 450.1109(1). Defendants point to paragraph 15 of the Complaint, which alleges that: Winget, the Corporate Defendants and the Winget Affiliates, and in certain circumstances .”
Blankenship v. Superior Controls, Inc., 135 F. Supp. 3d 608 (E.D. Mich. 2015).
“(2002), MCL 450.1109(1) defines “shareholder” as a “person holding units of proprietary interest in a corporation.”
Meathe v. Ret, 903 F. Supp. 2d 507 (E.D. Mich. 2012).
“§ 450.1109(1) defines shareholder as a “person holding units of proprietary interest in a corporation.”
— Mich. Comp. Laws § 450.1109(2) — 4 cases
Madugula v. Taub, 853 N.W.2d 75 (Mich. 2014).
“1461 97 For example, shareholder agreements can modify the method of distributions, establish directors or officers, “govern!] the exercise or division of voting power by or between the shareholders and directors or by or among any of the shareholders or directors, including use…”
Loren E Pitsch Jr v. Pitsch Holding Co. Inc (Mich. Ct. App. 2018).
“quoting MCL 450.1109(2). Among the rights shareholders in a corporation have are “the right to vote, inspect -10- the books, and receive distributions.”
Scott Fowler v. Donald Keiper (Mich. Ct. App. 2023).
“, quoting MCL 450.1109(2). Among the rights shareholders have are “the right to vote, inspect the books, and receive distributions.”
Est. of Charles Edwards v. David Edwards (Mich. Ct. App. 2025).
“” MCL 450.1109(2). “Through this interest in the corporation, a shareholder retains certain statutory rights that allow the shareholder to protect and gain from his or her interest as a shareholder, including, but not limited to, the right to vote, inspect the books, and receive…”
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