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Michigan Legislature
Michigan Compiled Laws Complete Through PA 446 of 2014

Senate: Adjourned until Tuesday, February 3, 2015 10:00:00 AM

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Section 450.2527

Act 162 of 1982

450.2527 Designation of committees; membership; alternates; term; providing for election or appointment of committees in articles or bylaws.

Sec. 527.

(1) Unless otherwise provided in the articles of incorporation or bylaws, the board may designate 1 or more committees, each committee to consist of 1 or more of the directors of the corporation. The board may designate 1 or more directors as alternate members of a committee, who may replace an absent or disqualified member at a meeting of the committee. The bylaws may provide that in the absence or disqualification of a member of a committee, the members thereof present at a meeting and not disqualified from voting, whether or not they constitute a quorum, may unanimously appoint another member of the board to act at the meeting in place of such an absent or disqualified member.

(2) A committee designated pursuant to subsection (1), and each member thereof, shall serve at the pleasure of the board.

(3) The articles of incorporation or bylaws may provide for the election or appointment of 1 or more committees to consist of 1 or more shareholders or members or 1 or more directors or a combination of shareholders or members and directors.

History: 1982, Act 162, Eff. Jan. 1, 1983

© 2009 Legislative Council, State of Michigan