MCL - 350-1980-3
Act 350 of 1980
Document | Type | Description |
---|---|---|
Section 550.1301 | Section | 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 | Section | Bylaws generally. |
Section 550.1303 | Section | 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 | Section | Books, records, and minutes; copy of minutes; disclosure, publication, and dissemination of minutes; compelling production of books or records. |
Section 550.1305 | Section | Establishment and composition of corporate body; service of members on committees; membership on board of directors. |
Section 550.1306 | Section | 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 | Section | Advisory councils; committees of board of directors; bylaws regarding membership and emergency meetings and actions. |
Section 550.1308 | Section | Committees of board of directors; powers and authority; prohibited activities; emergency actions. |
Section 550.1309 | Section | Officers and assistants; selection; restriction; authority and duties; removal; contractual rights; bond; vacancies; compensation; pension. |
Section 550.1310 | Section | Fiduciary duties; scope and manner of discharge; removal of director for breach of fiduciary duty; notice and hearing. |
Section 550.1311 | Section | Liability for misapplication or misuse of corporate money or property. |
Section 550.1312 | Section | Action for failure to perform duties; commencement. |
Section 550.1313 | Section | False statement as misdemeanor; liability for false statement or report; commencement of action for civil liability. |