Michigan § 500.5517 - Shareholder right to dissent and obtain payment in connection with division; application of MCL 450.1762 to shareholder actions.
Full text of Michigan Michigan Compiled Laws § 500.5517 — Shareholder right to dissent and obtain payment in connection with division; application of MCL 450.1762 to shareholder actions., with citation guidance and answers to common questions.
§ 500.5517. Shareholder right to dissent and obtain payment in connection with division; application of MCL 450.1762 to shareholder actions.
(1) A shareholder of a dividing insurer is entitled to dissent from, and obtain payment of the fair value of the shareholder's shares in connection with, a division under this chapter in which the dividing insurer does not survive the division, unless the shares are converted into or canceled solely for 1 or more of the following:
(a) Cash.
(b) Shares that are listed on a national securities exchange or designated as a national market system security on an interdealer quotation system by the National Association of Securities Dealers, on the record date fixed to vote on the plan of division.
(2) Section 1762 of the business corporation act, 1972 PA 284, MCL 450.1762, applies to a shareholder exercising the rights in the same manner as would be applicable to a merger of a domestic corporation.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.5517
What does Michigan Compiled Laws § 500.5517 cover?
Section 500.5517 ("Shareholder right to dissent and obtain payment in connection with division; application of MCL 450.1762 to shareholder actions.") 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 § 500.5517?
A common citation format is "Michigan Compiled Laws § 500.5517" (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 § 500.5517 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.