Mich. Comp. Laws » Michigan Compiled Laws / Chapter 450 / Act 284 of 1972
Michigan Compiled Laws

Mich. Comp. Laws § 450.1491a (2026)

Definitions.

✓ current as of July 2026
Find cases: SyfertCases citing this section MI-LEGlegislature.mi.gov JustiaChapter on Justia CornellLII Search CasesGoogle Scholar

BUSINESS CORPORATION ACT


Act 284 of 1972


450.1491a Definitions.

Sec. 491a.

    As used in this section and sections 492a to 497:

    (a) "Derivative proceeding" means a civil suit in the right of a domestic corporation or a foreign corporation that is authorized to or does transact business in this state.

    (b) "Shareholder" means a record or beneficial owner of shares and includes a beneficial owner whose shares are held in a voting trust or held by a nominee on the owner's behalf.

    (c) "Disinterested director" means a director who is not a party to a derivative proceeding, or a director who is a party if the corporation demonstrates that the claim asserted against the director is frivolous or insubstantial.

History: Add. 1989, Act 121, Eff. Oct. 1, 1989 ;-- Am. 1997, Act 118, Imd. Eff. Oct. 24, 1997

Notes of Decisions
Cited in 6 cases (3 in the last 5 years), 2001–2026 · leading case: Virginia M. Damon Trust v. North Country Fin. Corp., 325 F. Supp. 2d 817 (W.D. Mich. 2004).
Sort: Relevance Newest Treatment
Virginia M. Damon Trust v. North Country Fin. Corp., 325 F. Supp. 2d 817 (W.D. Mich. 2004). “§ 450.1491a, NCFC nonetheless is prepared to accept the letter as a ‘written demand.”
Estes v. Idea Eng'g & Fabricating, Inc, 631 N.W.2d 89 (Mich. Ct. App. 2001). “” MCL 450.1491a(a), 450.1492a(b). Chapter 5 of the act, MCL 450.”
Value Save Prop. LLC v. Wisam Sattam (Mich. Ct. App. 2026). · cites it 2× “The same is true for MCL 450.1491a, which is a definitions section of the Business Corporation Act (BCA), MCL 450.”
Leslie J Murphy v. Samuel M Inman III (Mich. Ct. App. 2020). “” MCL 450.1491a(a). -3- we noted three crucial differences between the two statues.”
Msc 345758 Leslie J Murphy V Samuel M Inman Iii Supremecourtopinion 4/5/2022 (Mich. 2022). “MCL 450.1491a(1). See also Black’s Law Dictionary (11th ed) (defining “derivative action”).”
Leslie J Murphy v. Samuel M Inman III (Mich. 2022). “MCL 450.1491a(1). See also Black’s Law Dictionary (11th ed) (defining “derivative action”).”
— Mich. Comp. Laws § 450.1491a(1) — 2 cases
Msc 345758 Leslie J Murphy V Samuel M Inman Iii Supremecourtopinion 4/5/2022 (Mich. 2022). “MCL 450.1491a(1). See also Black’s Law Dictionary (11th ed) (defining “derivative action”).”
Leslie J Murphy v. Samuel M Inman III (Mich. 2022). “MCL 450.1491a(1). See also Black’s Law Dictionary (11th ed) (defining “derivative action”).”
— Mich. Comp. Laws § 450.1491a(a) — 2 cases
Estes v. Idea Eng'g & Fabricating, Inc, 631 N.W.2d 89 (Mich. Ct. App. 2001). “” MCL 450.1491a(a), 450.1492a(b). Chapter 5 of the act, MCL 450.”
Leslie J Murphy v. Samuel M Inman III (Mich. Ct. App. 2020). “” MCL 450.1491a(a). -3- we noted three crucial differences between the two statues.”
— Mich. Comp. Laws § 450.1491a(b) — 1 case
Value Save Prop. LLC v. Wisam Sattam (Mich. Ct. App. 2026). “The same is true for MCL 450.1491a, which is a definitions section of the Business Corporation Act (BCA), MCL 450.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.