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Form a Business

Board of directors; members, election, qualification.

MCL 486.54
in effect
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486.54. Board of directors; members, election, qualification. Sec. 4. 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. 1883, Act 39, Imd. Eff. Apr. 21, 1883; How. 3895d; CL 1897, 6792; CL 1915, 8892; CL 1929, 11827; CL 1948, 486.54 [PopularName] Water Company Act
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-486-54Fetched: 10/20/2026

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