MI Bar Practice Questions - Michigan Bar Examination Exam

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A minority shareholder in a closely held Michigan corporation alleges the controlling shareholders froze her out of management and withheld distributions. Which Michigan statute provides a remedy for 'willfully unfair and oppressive' conduct toward a shareholder?

The federal Securities Exchange Act of 1934 The Delaware General Corporation Law MCL 450.1489 of the Michigan Business Corporation Act MCL 600.2959, the comparative-fault statute

Correct Answer:

MCL 450.1489 of the Michigan Business Corporation Act

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