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NOTE: Dates reflect any modification to item, not necessarily a change in law.
162-1982-5
- CHAPTER 5 (450.2501...450.2569)
| Section 450.2501 ‑ | Management of business and affairs of corporation by board; qualifications of directors; powers of board. |
| Section 450.2505 ‑ | Board; number, term, and election or appointment of directors; resignation of director; number of directors on effective date of amendatory act. |
| Section 450.2506 ‑ | Dividing directors into 2 or more classes; election or appointment; term; expiration; election of directors by shareholders or members of class. |
| Section 450.2515 ‑ | Filling of vacancies; increase in number of directors; special meeting where no directors in office. |
| Section 450.2521 ‑ | Regular or special meetings of board; location; notice; waiver; 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 450.2527 ‑ | Designation of committees; membership; alternates; term; providing for election or appointment of committees in articles or bylaws. |
| Section 450.2528 ‑ | Committee designated pursuant to MCL 450.2527; powers and authority. |
| Section 450.2531 ‑ | Officers of corporation; election or appointment; person 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; compliance; liability of volunteer director; action against director or officer for failure to perform duties. |
| Section 450.2545 ‑ | Transaction between corporation and directors or officers, or between corporation and corporation or business corporation, firm, or association in which directors or officers interested, not void or voidable; conditions. |
| Section 450.2546 ‑ | Burden of establishing validity of contract described in MCL 450.2545; grounds; counting common or interested directors in determining presence of quorum; compensation of directors; approval of shareholders or members. |
| Section 450.2548 ‑ | Loan, guaranty, or assistance by corporation for officer or employee; corporation as charitable purpose corporation. |
| Section 450.2551 ‑ | Liability of directors for certain corporate actions; liability of shareholder or member accepting or receiving unauthorized distribution. |
| 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 referred to in MCL 450.2551 taken; presumption; dissent. |
| 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 against expenses of director, officer, employee, nondirector volunteer, or agent successful in defense of action, suit, or proceeding referred to in MCL 450.2561 or 450.2562; authorization; determination; indemnification for portion of expenses. |
| Section 450.2564 ‑ | Advance payment by corporation of expenses incurred in defending action, suit, or proceeding described in MCL 450.2561 or 450.2562; repayment. |
| Section 450.2565 ‑ | Indemnification or advancement of expenses not exclusive of other rights; limitation; continuation of indemnification. |
| 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; effect. |
