NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982
450.3131 Organization on nonstock membership basis.
Sec. 1131.
Notwithstanding section 302, a cooperative organized under this act shall be organized on a nonstock membership basis and shall not be organized on a stock or directorship basis.
History: Add. 1984, Act 209, Eff. Nov. 1, 1985
© 2009 Legislative Council, State of Michigan
