Sec. 4.
Any corporation that may be formed under the provisions of this act, may be exempted from the operation of the provisions of section 5 of the aforesaid act of 1857, and may choose its officers, and conduct its operations in such manner as may be prescribed by its constitution or articles of association, subject to the restrictions contained in the proviso to section 2 of this act.
History: 1869, Act 167, Imd. Eff. Apr. 5, 1869 ;-- CL 1871, 2819 ;-- How. 3948 ;-- CL 1897, 7450 ;-- CL 1915, 9822 ;-- CL 1929, 10276 ;-- CL 1948, 454.54 Compiler's Notes: For provisions of section 5, referred to in this section, see MCL 454.5.
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