Michigan § 450.1341a - Issuance of shares pro rata and without consideration; share dividend.
Full text of Michigan Michigan Compiled Laws § 450.1341a — Issuance of shares pro rata and without consideration; share dividend., with citation guidance and answers to common questions.
§ 450.1341a. Issuance of shares pro rata and without consideration; share dividend.
Unless the articles of incorporation provide otherwise, shares may be issued pro rata and without consideration to the corporation's shareholders or to the shareholders of 1 or more classes or series. An issuance of shares under this subsection is a share dividend.
Shares of 1 class or series may not be issued as a share dividend in respect of shares of another class or series unless the articles so authorize, a majority of the votes entitled to be cast by the class or series to be issued approve the issue, or there are no outstanding shares of the class or series to be issued.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 450.1341a
What does Michigan Compiled Laws § 450.1341a cover?
Section 450.1341a ("Issuance of shares pro rata and without consideration; share dividend.") 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 § 450.1341a?
A common citation format is "Michigan Compiled Laws § 450.1341a" (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 § 450.1341a 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.