162-1982-5 Chapter 5 (450.2501...450.2571)

162-1982-5 Chapter 5 (450.2501...450.2571)

Section 450.2501 Board of Directors; Management of Business and Affairs of Corporation; Qualifications; Powers.
Section 450.2501a Board of Directors; Minimum Age; Requirements.
Section 450.2505 Board; Number, Term, Election or Appointment, and Resignation of Directors.
Section 450.2506 Dividing Directors Up to 5 Classes; Election or Appointment; Term; Expiration.
Section 450.2511 Removal of Director; Vote.
Section 450.2514 Removal of Director by Circuit Court.
Section 450.2515 Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.
Section 450.2515a Vacancy.
Section 450.2521 Regular or Special Meetings of Board; Location; Notice; Attendance or Participation as Waiver of Notice; Participation by Means of Conference Telephone or Other Remote Communication.
Section 450.2523 Quorum; Vote Constituting Action of Board or Committee; Amendment of Bylaws.
Section 450.2525 Taking Action Without Meeting; Consent.
Section 450.2527 Designation of Committees; Membership; Alternates; Absent or Disqualified Member; Providing for Election or Appointment of Committees in Articles or Bylaws.
Section 450.2528 Executive Committee Designated Under Mcl 450.2527(1) or (3); Powers and Authority; Subcommittees.
Section 450.2529 Submitting Matter to Vote.
Section 450.2531 Officers of Corporation; Membership; Election or Appointment; Individual Holding 2 or More Offices; Term of Office; Authority and Duties.
Section 450.2535 Removal of Officer; Suspension of Authority to Act; Contract Rights; Resignation of Officer; Notice.
Section 450.2541 Director or Officer; Discharge of Duties; Manner; Reliance on Certain Information; Compliance; Liability; Claim for Monetary Damages for Breach of Volunteer Director's Duty; Commencement of Action.
Section 450.2545 Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.
Section 450.2545a Transaction in Which Director or Officer Has Interest.
Section 450.2546 Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.
Section 450.2548 Loan, Guaranty, or Assistance by Corporation for Officer or Employee.
Section 450.2551 Liability of Directors for Certain Corporate Actions; Liability of Shareholder or Member Accepting or Receiving Distribution Contrary to Act.
Section 450.2552 Rights of Director Against Whom Claim Successfully Asserted Under Mcl 450.2551.
Section 450.2553 Presence or Absence of Director at Meeting at Which Action Under Mcl 450.2551 Taken; Presumption; Dissent.
Section 450.2554 Commencement of Action Under Mcl 450.2551 or 450.2552.
Section 450.2556 Volunteer's Acts or Omissions; Claim for Monetary Damages.
Section 450.2561 Indemnification of Director, Officer, Partner, Trustee, Employee, Nondirector Volunteer, or Agent in Connection With Action, Suit, or Proceeding; Conditions; Presumption.
Section 450.2562 Indemnification Against Expenses of Director, Officer, Partner, Trustee, Employee, Nondirector Volunteer, or Agent in Connection With Action or Suit by or in Right of Corporation; Conditions; Limitations.
Section 450.2563 Indemnification for Expenses of Director, Officer, or Nondirector Volunteer Successful in Defense of Action, Suit, or Proceeding Referred to in Mcl 450.2561 or 450.2562.
Section 450.2564 Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015.
Section 450.2564a Indemnification of Director, Officer, Employee, Nondirector Volunteer, or Agent Under Mcl 450.2561 or 450.2562; Authorization; Basis; Determination; Evaluation; Designation of Committee or Selection of Legal Counsel; Indemnification for Portion of Expenses; Payment; Indemnification of Director for Expenses and Liabilities.
Section 450.2564b Expenses Incurred by Director, Officer, Employee, Nondirector Volunteer, or Agent; Reimbursement; Agreement; Advances.
Section 450.2564c Indemnification of Director, Officer, Employee, Nondirector Volunteer, or Agent; Application to Court; Determination.
Section 450.2565 Indemnification or Advance of Expenses Not Exclusive of Other Rights; Limitation; Continuation; Amended Provision.
Section 450.2567 Purchase and Maintenance of Insurance on Behalf of Director, Officer, Employee, Nondirector Volunteer, or Agent.
Section 450.2569 Scope of "Corporation" for Purposes of Mcl 450.2561 to 450.2567.
Section 450.2571 Definitions.

We have updated our Terms of Service, Privacy Policy, and Disclosures. By continuing to browse this site, you agree to our Terms of Service, Privacy Policy, and Disclosures.

Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.

LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.

The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.

You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.

The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.

Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.

Bookish