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Form a Business

Officers of company; designation, election, bonding.

MCL 486.314
in effect
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486.314. Officers of company; designation, election, bonding. Sec. 14. The officers of such company shall be a president, who also shall be a director, a secretary, a treasurer, and such other officers, agents and servants, as the board of directors shall deem necessary for the transaction of the business of the company; such officers shall be elected annually, by the directors, and may be required to give bonds, with penalty and sureties, to the approval of the board of directors. 1869, Act 113, Imd. Eff. Apr. 3, 1869; CL 1871, 3368; How. 3123; CL 1897, 8513; CL 1915, 11295; CL 1929, 11888; CL 1948, 486.314
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-486-314Fetched: 10/20/2026

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