PocketLaw | Michigan Compiled Laws | Chapter 5 Directors and Officers

Number, Election, and Term of Directors; Resignation; Designation, Compensation, and Expenses of Independent Director; Communication of Independent Director With Shareholders.

Section
450.1506

Division of Directors Into Classes; Terms of Directors in First, Second, or Third Class; Election.

Section
450.1511

Committees; Designation by Board; Membership; Absence or Disqualification of Member; Terms.

Section
450.1528

Committees; Powers and Authority; Limitations; Subcommittees.

Section
450.1529

Submission of Matter to Shareholder Vote.

Section
450.1531

Officers of Corporation; Election or Appointment; Holding 2 or More Offices; Authority and Duties.

Section
450.1535

Removal or Resignation of Officers; Contract Rights.

Section
450.1541

Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Section
450.1541a

Director or Officer; Manner of Discharging Duties; Reliance on Information, Opinions, Reports, or Statements; Action Against Director or Officer; Limitations.

Section
450.1545

Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Section
450.1545a

Interest of Director or Officer in Transaction; Compensation of Directors.

Section
450.1546

Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Section
450.1548

Loan, Guaranty, or Assistance by Corporation to Director, Officer, or Employee.

Section
450.1551

Liability of Directors for Corporate Actions; Liability of Shareholders Accepting or Receiving Share Dividend or Distribution.

Section
450.1552

Rights of Director Against Whom Claim Is Successfully Asserted Under MCL 450.1551.

Section
450.1553

Presumption of Concurrence by Director in Corporation Action; Effect of Dissent.

Section
450.1554

Action Against Director or Shareholder; Limitation.

Section
450.1561

Indemnification of Certain Persons Generally.

Section
450.1562

Additional Provisions for Indemnification of Certain Persons.

Section
450.1563

Indemnification Against Actual and Reasonable Expenses.

Section
450.1564

Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Section
450.1564a

Indemnification Under MCL 450.1561, MCL 450.1562, or MCL 450.1563; Determination and Evaluation; Designation of Committee or Selection of Independent Legal Counsel; Partial Indemnification; Payment Authorization; Indemnification for Expenses and Liabilities.

Section
450.1564b

Payment or Reimbursement of Party in Advance of Final Disposition of Proceeding; Undertaking as Unlimited General Obligation; Evaluation of Reasonableness; Advancement of Expenses.

Section
450.1564c

Application for Indemnification to Court; Determination.

Section
450.1565

Limitation on Total Amount of Expenses Advanced or Indemnified; Duration of Indemnification; Elimination or Impairment.

Section
450.1567

Liability Insurance.

Section
450.1569

“Corporation” Defined for Purposes of MCL 450.1561 to 450.1567; "Business Organization" Defined.

Section
450.1571

Chapter 5 Directors and Officers (450.1501...450.1571)

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Management of Corporation; Qualifications of Director.

Number, Election, and Term of Directors; Resignation; Designation, Compensation, and Expenses of Independent Director; Communication of Independent Director With Shareholders.

Division of Directors Into Classes; Terms of Directors in First, Second, or Third Class; Election.

Removal of Directors by Shareholders.

Removal of Director by Court.

Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Filling Vacancy in Board.

Regular or Special Meetings of Board.

Quorum; Majority Vote as Constituting Action of Board.

Consent to Action of Board Without Meeting.

Committees; Designation by Board; Membership; Absence or Disqualification of Member; Terms.

Committees; Powers and Authority; Limitations; Subcommittees.

Submission of Matter to Shareholder Vote.

Officers of Corporation; Election or Appointment; Holding 2 or More Offices; Authority and Duties.

Removal or Resignation of Officers; Contract Rights.

Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Director or Officer; Manner of Discharging Duties; Reliance on Information, Opinions, Reports, or Statements; Action Against Director or Officer; Limitations.

Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Interest of Director or Officer in Transaction; Compensation of Directors.

Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Loan, Guaranty, or Assistance by Corporation to Director, Officer, or Employee.

Liability of Directors for Corporate Actions; Liability of Shareholders Accepting or Receiving Share Dividend or Distribution.

Rights of Director Against Whom Claim Is Successfully Asserted Under MCL 450.1551.

Presumption of Concurrence by Director in Corporation Action; Effect of Dissent.

Action Against Director or Shareholder; Limitation.

Indemnification of Certain Persons Generally.

Additional Provisions for Indemnification of Certain Persons.

Indemnification Against Actual and Reasonable Expenses.

Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Indemnification Under MCL 450.1561, MCL 450.1562, or MCL 450.1563; Determination and Evaluation; Designation of Committee or Selection of Independent Legal Counsel; Partial Indemnification; Payment Authorization; Indemnification for Expenses and Liabilities.

Payment or Reimbursement of Party in Advance of Final Disposition of Proceeding; Undertaking as Unlimited General Obligation; Evaluation of Reasonableness; Advancement of Expenses.

Application for Indemnification to Court; Determination.

Limitation on Total Amount of Expenses Advanced or Indemnified; Duration of Indemnification; Elimination or Impairment.

Liability Insurance.

“Corporation” Defined for Purposes of MCL 450.1561 to 450.1567; "Business Organization" Defined.

Definitions.