Michigan § 450.1422 - Irrevocable proxy.
Full text of Michigan Michigan Compiled Laws § 450.1422 — Irrevocable proxy., with citation guidance and answers to common questions.
§ 450.1422. Irrevocable proxy.
A proxy which is entitled "irrevocable proxy", and which states that it is irrevocable, is irrevocable when it is held by any of the following or a nominee of any of the following:
A pledgee of or other holder of a security interest in the shares.
A person who has purchased or agreed to purchase the shares.
A creditor of the corporation who extends or continues credit to the corporation in consideration of the proxy.
A person who has contracted to perform services as a director, officer, or employee of the corporation, if a proxy is required by the contract of employment.
A person designated by or under an agreement under section 461.
A holder of any other proxy coupled with an interest.
Frequently Asked Questions About Michigan § 450.1422
What does Michigan Compiled Laws § 450.1422 cover?
Section 450.1422 ("Irrevocable proxy.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 450.1422?
A common citation format is "Michigan Compiled Laws § 450.1422" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 450.1422 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.