{"data":{"id":"us-mi/mich.-comp.-laws-450.1769","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 450.1769","heading":"Payment by corporation to dissenter; accompanying documents.","body":"Sec. 769.\n\nExcept as provided in section 771, within 7 days after the proposed corporate action is taken or a payment demand is received, whichever occurs later, the corporation shall pay each dissenter who complied with section 767 the amount the corporation estimates to be the fair value of his or her shares, plus accrued interest.\n\nThe payment must be accompanied by all of the following:\n\nThe corporation's balance sheet as of the end of a fiscal year ending not more than 16 months before the date of payment, an income statement for that year, a statement of changes in shareholders' equity for that year, and if available the latest interim financial statements.\n\nA statement of the corporation's estimate of the fair value of the shares.\n\nAn explanation of how the interest was calculated.\n\nA statement of the dissenter's right to demand payment under section 772.","path":["MI Code","Chapter 450","Act Act-284-of-1972"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-450-1769","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"694ce70f5f130285e3a58fed8e1cae88e477e613b0234bca784ff76d1eef691c","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-450.1768","next":"us-mi/mich.-comp.-laws-450.1770"},"notice":"GroundRules: Original legal text. Not legal advice."}