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Form a Business

Management of corporation; qualifications of director.

MCL 450.1501
in effect
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450.1501. Management of corporation; qualifications of director. Sec. 501. The business and affairs of a corporation shall be managed by or under the direction of its board, except as otherwise provided in this act or in its articles of incorporation. A director need not be a shareholder of the corporation unless the articles or bylaws so require. The articles or bylaws may prescribe qualifications for directors. 1972, Act 284, Eff. Jan. 1, 1973; Am. 1982, Act 407, Eff. Jan. 1, 1983
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-450-1501Fetched: 10/20/2026

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