Michigan Compiled Laws § 450.3131 Organization On Nonstock Membership Basis.

450.3131 Organization on nonstock membership basis.

Sec. 1131.

Notwithstanding section 302, a cooperative organized under this act shall be organized on a nonstock membership basis and shall not be organized on a stock or directorship basis.

History: Add. 1984, Act 209, Eff. Nov. 1, 1985

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Last modified: October 10, 2016