PocketLaw | Michigan Compiled Laws | Part 3 (550.1301...550.1313)

Part 3 (550.1301...550.1313)

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Section
550.1301

Board of Directors; Powers and Duties Generally; Appointment, Qualifications, and Terms of Members; Vacancy; Officer or Employee as Voting or Nonvoting Director; Method of Selection; Definitions; Prohibition.

Section
550.1302

Bylaws Generally.

Section
550.1303

Meetings; Required Provisions in Bylaws; Notice; Waiver; Participation by Conference Telephone or Similar Communications Equipment; Quorum; Action by Board; Actions Requiring Majority Vote; Record Roll Call Vote; Recording Vote in Minutes.

Section
550.1304

Books, Records, and Minutes; Copy of Minutes; Disclosure, Publication, and Dissemination of Minutes; Compelling Production of Books or Records.

Section
550.1305

Establishment and Composition of Corporate Body; Service of Members on Committees; Membership on Board of Directors.

Section
550.1306

Effect of Common Directorship, Officership, or Interest on Validity of Contract or Other Transaction; Burden of Establishing Validity of Contract; Exclusion of Common or Interested Directors in Determination of Quorum; Compensation of Directors; Bylaws Regarding Conflict of Interest.

Section
550.1307

Advisory Councils; Committees of Board of Directors; Bylaws Regarding Membership and Emergency Meetings and Actions.

Section
550.1308

Committees of Board of Directors; Powers and Authority; Prohibited Activities; Emergency Actions.

Section
550.1309

Officers and Assistants; Selection; Restriction; Authority and Duties; Removal; Contractual Rights; Bond; Vacancies; Compensation; Pension.

Section
550.1310

Fiduciary Duties; Scope and Manner of Discharge; Removal of Director for Breach of Fiduciary Duty; Notice and Hearing.

Section
550.1311

Liability for Misapplication or Misuse of Corporate Money or Property.

Section
550.1312

Action for Failure to Perform Duties; Commencement.

Section
550.1313

False Statement as Misdemeanor; Liability for False Statement or Report; Commencement of Action for Civil Liability.