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Form a Business

Membership; trustees, election, term, qualification.

MCL 457.367
in effect
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457.367. Membership; trustees, election, term, qualification. Sec. 7. Every such corporation shall have power to provide by its by-laws for succession to its original membership and for new membership; and shall also have power to provide by its by-laws for the election from its stockholders of a board of trustees, and to fix the number and term of office of such trustees. But such board of trustees shall not be less than 5 and such term of office shall not exceed 3 years. Such board of trustees shall consist of an equal number from each subordinate chartered lodge of Knights of Pythias owning and holding shares of stock in said corporation as a lodge and situated in the town or city where the property of said corporation is located. 1905, Act 85, Imd. Eff. May 3, 1905; CL 1915, 10477; CL 1929, 10680; CL 1948, 457.367
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-457-367Fetched: 10/20/2026

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