October 18, 2005, Introduced by Reps. Emmons, Huizenga, Vander Veen, Baxter, Wenke, Taub and Tobocman and referred to the Committee on Commerce.
A bill to amend 1972 PA 284, entitled
"Business corporation act,"
by amending section 143 (MCL 450.1143), as amended by 2001 PA 57.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec.
143. (1) When If a notice or communication is required
or permitted by this act to be given by mail, it shall be mailed,
except as otherwise provided in this act, to the person to whom it
is directed at the address designated by him or her for that
purpose or, if none is designated, at his or her last known
address. The notice or communication is given when deposited, with
postage
thereon prepaid, in a post office or official depository
under the exclusive care and custody of the United States postal
service. The
Unless the corporation has
securities registered
under section 12 of title 1 of the securities exchange act of 1934,
15 USC 78l, the mailing shall be registered, certified, or other
first-class mail except where otherwise provided in this act.
(2) If a corporation is required or permitted to provide its
shareholders with a written notice or other written report,
statement, or communication by this act, the articles of
incorporation, or the bylaws, the corporation may provide that
notice, report, statement, or communication to all shareholders
that share a common address by delivering 1 copy of it to the
common address if all of the following are met:
(a) The corporation addresses the notice, report, statement,
or communication to the shareholders who share the common address
as a group, individually, or in any other form to which any of
those shareholders have not objected.
(b) At least 60 days before the first delivery of any delivery
to a common address under this subsection, the corporation gives
notice to the shareholders who share that common address that it
intends to provide only 1 copy of notices, reports, statements, or
other communications to shareholders that share a common address.
(c) The corporation has not received a written objection from
any shareholder that shares a common address to deliveries under
this subsection to that shareholder. If it receives a written
objection under this subdivision, the corporation within 30 days
shall begin providing the objecting shareholder with separate
copies of any notices, reports, statements, or communications to
the shareholders, but the corporation may deliver 1 copy of the
notices, reports, statements, or communications to all of the
shareholders at that common address that have not objected.
(3) (2)
When If a notice is required or permitted by this
act to be given in writing, electronic transmission is written
notice.
(4) (3)
When If a notice or communication is permitted by
this act to be transmitted electronically, the notice or
communication is given when electronically transmitted to the
person entitled to the notice or communication in a manner
authorized by the person.
(5) As used in subsection (2), "address" means a street
address, post office box, electronic mail address for electronic
transmissions by electronic mail, or telephone facsimile number for
electronic transmissions by facsimile.