Michigan § 450.2493a - Derivative proceeding; commencement.
Full text of Michigan Michigan Compiled Laws § 450.2493a — Derivative proceeding; commencement., with citation guidance and answers to common questions.
§ 450.2493a. Derivative proceeding; commencement.
A shareholder, member, or director may not commence a derivative proceeding until all of the following have occurred:
(a) A written demand is made on the corporation to take suitable action.
(b) Ninety days have expired from the date the demand was made unless the shareholder, member, or director is notified that the corporation has rejected the demand or unless irreparable injury to the corporation would result by waiting for the expiration of the 90-day period.
Frequently Asked Questions About Michigan § 450.2493a
What does Michigan Compiled Laws § 450.2493a cover?
Section 450.2493a ("Derivative proceeding; commencement.") 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 § 450.2493a?
A common citation format is "Michigan Compiled Laws § 450.2493a" (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 § 450.2493a 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.