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Form a Business

Board of trustees; election, quorum, officers.

MCL 457.295
in effect
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457.295. Board of trustees; election, quorum, officers. Sec. 5. The stockholders, each of whom shall be entitled to 1 vote for each share of stock held by him, may elect from their number a board of trustees, not less than 6 nor more than 9 members, a majority of whom shall form a quorum, and the trustees shall appoint from their own number a president, secretary and treasurer, who shall perform the duties of their offices in accordance with the rules and regulations which may be prescribed by the board of trustees. 1897, Act 256, Imd. Eff. June 2, 1897; CL 1897, 7987; CL 1915, 10431; CL 1929, 10646; CL 1948, 457.295
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-457-295Fetched: 10/20/2026

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