MCL - 284-1972-5
Act 284 of 1972
DIRECTORS AND OFFICERS
| Document | Type | Description |
|---|---|---|
| Section 450.1501 | Section | Management of corporation; qualifications of director. |
| Section 450.1505 | Section | Number, election, and term of directors; resignation; designation, compensation, and expenses of independent director; communication of independent director with shareholders. |
| Section 450.1506 | Section | Division of directors into classes; terms of directors in first, second, or third class; election. |
| Section 450.1511 | Section | Removal of directors by shareholders. |
| Section 450.1514 | Section | Removal of director by court. |
| Section 450.1515 | Section | Repealed. 1989, Act 121, Eff. Oct. 1, 1989. |
| Section 450.1515a | Section | Filling vacancy in board. |
| Section 450.1521 | Section | Regular or special meetings of board. |
| Section 450.1523 | Section | Quorum; majority vote as constituting action of board. |
| Section 450.1525 | Section | Consent to action of board without meeting. |
| Section 450.1527 | Section | Committees; designation by board; membership; absence or disqualification of member; terms. |
| Section 450.1528 | Section | Committees; powers and authority; limitations; subcommittees. |
| Section 450.1529 | Section | Submission of matter to shareholder vote. |
| Section 450.1531 | Section | Officers of corporation; election or appointment; holding 2 or more offices; authority and duties. |
| Section 450.1535 | Section | Removal or resignation of officers; contract rights. |
| Section 450.1541 | Section | Repealed. 1989, Act 121, Eff. Oct. 1, 1989. |
| Section 450.1541a | Section | Director or officer; manner of discharging duties; reliance on information, opinions, reports, or statements; action against director or officer; limitations. |
| Section 450.1545 | Section | Repealed. 1989, Act 121, Eff. Oct. 1, 1989. |
| Section 450.1545a | Section | Interest of director or officer in transaction; compensation of directors. |
| Section 450.1546 | Section | Repealed. 1989, Act 121, Eff. Oct. 1, 1989. |
| Section 450.1548 | Section | Loan, guaranty, or assistance by corporation to director, officer, or employee. |
| Section 450.1551 | Section | Liability of directors for corporate actions; liability of shareholders accepting or receiving share dividend or distribution. |
| Section 450.1552 | Section | Rights of director against whom claim is successfully asserted under MCL 450.1551. |
| Section 450.1553 | Section | Presumption of concurrence by director in corporation action; effect of dissent. |
| Section 450.1554 | Section | Action against director or shareholder; limitation. |
| Section 450.1561 | Section | Indemnification of certain persons generally. |
| Section 450.1562 | Section | Additional provisions for indemnification of certain persons. |
| Section 450.1563 | Section | Indemnification against actual and reasonable expenses. |
| Section 450.1564 | Section | Repealed. 1989, Act 121, Eff. Oct. 1, 1989. |
| Section 450.1564a | Section | Indemnification under MCL 450.1561, MCL 450.1562, or MCL 450.1563; determination and evaluation; designation of committee or selection of independent legal counsel; partial indemnification; payment authorization; indemnification for expenses and liabilities. |
| Section 450.1564b | Section | Payment or reimbursement of party in advance of final disposition of proceeding; undertaking as unlimited general obligation; evaluation of reasonableness; advancement of expenses. |
| Section 450.1564c | Section | Application for indemnification to court; determination. |
| Section 450.1565 | Section | Limitation on total amount of expenses advanced or indemnified; duration of indemnification; elimination or impairment. |
| Section 450.1567 | Section | Liability insurance. |
| Section 450.1569 | Section | “Corporation” defined for purposes of MCL 450.1561 to 450.1567; "business organization" defined. |
| Section 450.1571 | Section | Definitions. |