Michigan § 450.1205 - Articles of incorporation; effect of provision as to compromise, arrangement, or plan of reorganization.
Full text of Michigan Michigan Compiled Laws § 450.1205 — Articles of incorporation; effect of provision as to compromise, arrangement, or plan of reorganization., with citation guidance and answers to common questions.
§ 450.1205. Articles of incorporation; effect of provision as to compromise, arrangement, or plan of reorganization.
When the provision of section 204 is included in the original articles of incorporation of a corporation, all persons who become creditors or shareholders thereof are deemed to have become creditors or shareholders subject in all respects to that provision, and it shall be binding upon them.
When that provision is inserted in the articles of a corporation, by an amendment of the articles, all persons who become creditors or shareholders of the corporation after the amendment becomes effective are deemed to have become creditors or shareholders subject in all respects to that provision, and it shall be binding upon them.
The circuit court may administer and enforce the provision and restrain, pendente lite, actions and proceedings against the corporation with respect to which the court so restraining has begun the administration or enforcement of the provision, and appoint a temporary receiver for the corporation and grant the receiver such powers as are deemed proper.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 450.1205
What does Michigan Compiled Laws § 450.1205 cover?
Section 450.1205 ("Articles of incorporation; effect of provision as to compromise, arrangement, or plan of reorganization.") 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 § 450.1205?
A common citation format is "Michigan Compiled Laws § 450.1205" (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 § 450.1205 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.