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

Mich. Comp. Laws § 450.1767 (2026)

Duties of shareholder sent dissenter's notice; retention of rights; failure to demand payment or deposit share certificates.

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BUSINESS CORPORATION ACT


Act 284 of 1972


450.1767 Duties of shareholder sent dissenter's notice; retention of rights; failure to demand payment or deposit share certificates.

Sec. 767.

    (1) A shareholder sent a dissenter's notice described in section 766 must demand payment, certify whether he or she acquired beneficial ownership of the shares before the date required to be set forth in the dissenters' notice pursuant to section 766(2)(c), and deposit his or her certificates in accordance with the terms of the notice.

    (2) The shareholder who demands payment and deposits his or her share certificates under subsection (1) retains all other rights of a shareholder until these rights are canceled or modified by the taking of the proposed corporate action.

    (3) A shareholder who does not demand payment or deposit his or her share certificates where required, each by the date set in the dissenters' notice, is not entitled to payment for his or her shares under this act.

History: 1972, Act 284, Eff. Jan. 1, 1973 ;-- Am. 1985, Act 76, Imd. Eff. July 5, 1985 ;-- Am. 1989, Act 121, Eff. Oct. 1, 1989

Notes of Decisions
Cited in 2 cases, 2000–2001 · leading case: Krieger v. Gast, 122 F. Supp. 2d 836 (W.D. Mich. 2000).
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Krieger v. Gast, 122 F. Supp. 2d 836 (W.D. Mich. 2000). “§ 450.1767(1). Upon receipt of the demand for payment and tendered shares, the corporation must pay the shareholder the estimated fair value of the shares plus accrued interest and must provide certain financial information to the shareholder.”
Krieger v. Gast, 179 F. Supp. 2d 762 (W.D. Mich. 2001). “§ 450.1767(1). The shareholder is not required to make the decision to seek appraisal until after he receives all of the information specified in § 769.”
— Mich. Comp. Laws § 450.1767(1) — 2 cases
Krieger v. Gast, 122 F. Supp. 2d 836 (W.D. Mich. 2000). “§ 450.1767(1). Upon receipt of the demand for payment and tendered shares, the corporation must pay the shareholder the estimated fair value of the shares plus accrued interest and must provide certain financial information to the shareholder.”
Krieger v. Gast, 179 F. Supp. 2d 762 (W.D. Mich. 2001). “§ 450.1767(1). The shareholder is not required to make the decision to seek appraisal until after he receives all of the information specified in § 769.”
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