Michigan Laws 600.765 – Jurisdiction over corporate shares irrespective of ownership
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The courts of record of this state shall have jurisdiction
(1) over the shares in a corporation incorporated in the state (subject to the limitations in the uniform stock transfer act),
Terms Used In Michigan Laws 600.765
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(2) over share certificates which are located within the territory of the state,
(3) over shares in a corporation represented by share certificates located within the state if the law of the state of incorporation embodies the share in the share certificates, whether or not the persons owning or claiming an interest in the shares or share certificates are subject to the jurisdiction of the courts of the state.