Sec. 5.
The management, direction and control of the property and business of such corporations shall be vested in such of its officers and persons as a majority of the members present and acting thereon shall from time to time determine.
History: 1881, Act 143, Imd. Eff. May 11, 1881 ;-- How. 4577 ;-- CL 1897, 8030 ;-- CL 1915, 10502 ;-- CL 1929, 10707 ;-- CL 1948, 457.455