Michigan § 487.13802 - Issuance of shares; number; classes; designations.
Full text of Michigan Michigan Compiled Laws § 487.13802 — Issuance of shares; number; classes; designations., with citation guidance and answers to common questions.
§ 487.13802. Issuance of shares; number; classes; designations.
A bank may issue the number of shares authorized in its articles of incorporation. The shares may be all of 1 class or may be divided into 2 or more classes. Each class shall consist of shares having the designations and relative voting, distribution, dividend, liquidation, and other rights, preferences, and limitations, consistent with this act as stated in the articles of incorporation of the issuing bank.
If the shares are divided into 2 or more classes, the shares of each class shall be designated in a manner to distinguish them from the shares of other classes.
Subject to the designations, relative rights, preferences, and limitations applicable to separate series, each share shall be equal to every other share of the same class.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 487.13802
What does Michigan Compiled Laws § 487.13802 cover?
Section 487.13802 ("Issuance of shares; number; classes; designations.") 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 § 487.13802?
A common citation format is "Michigan Compiled Laws § 487.13802" (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 § 487.13802 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.