BUSINESS CORPORATION ACT (EXCERPT)
Act 284 of 1972

450.1494 Stay of derivative proceeding; condition.

Sec. 494.

If the corporation commences an investigation of the allegations made in the demand or complaint, the court may stay any derivative proceeding for a period as the court considers appropriate.

History: Add. 1989, Act 121, Eff. Oct. 1, 1989

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Michigan Compiled Laws Complete Through PA 5 of 2025
Courtesy of legislature.mi.gov