Michigan Compiled Laws § 450.2494 Derivative Proceeding; Investigation; Issuance Of Stay.

450.2494 Derivative proceeding; investigation; issuance of stay.

Sec. 494.

If the corporation commences an investigation of the allegations made in a demand under section 493 or a complaint in a derivative proceeding, the court may stay the derivative proceeding for a period that the court considers appropriate.

History: Add. 2014, Act 557, Imd. Eff. Jan. 15, 2015

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Last modified: October 10, 2016