Mich. Comp. Laws § 450.2493a

Current through Public Act 57 of the 2024 Legislative Session

Section 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.

MCL 450.2493a

Added by 2014, Act 557,s 88, eff. 1/15/2015.