Michigan – SB 357, effective October 1, amends Chapter 7A of the Business Corporation Act

October 4, 2013

Senate Bill 357 (Public Act 123) signed by the governor and effective October 1 amends Chapter 7A of the Business Corporation Act to narrow the definition of “interested shareholder” for purposes of a shareholder vote on a business combination. 

The bill text can be accessed at http://www.legislature.mi.gov/documents/2013-2014/billenrolled/Senate/htm/2013-SNB-0357.htm