Mich. Comp. Laws § 486.54

Current through Public Act 57 of the 2024 Legislative Session

Section 486.54 - Board of directors; members, election, qualification

The business and property of such company shall be managed and directed by a board of not less than 5 nor more than 7 directors, who shall be elected annually and at such time and place as said by-laws may direct. No person shall be a director unless he is a stockholder in the corporation.

MCL 486.54

1883, Act 39, Imd. Eff. 4/21/1883 ;--How. 3895d ;--CL 1897, 6792 ;--CL 1915, 8892 ;--CL 1929, 11827 ;--CL 1948, 486.54.