Section 450.2305 - Corporation organized upon directorship basis; members; voting; matters subject to action by board of directors. - Michigan Statutes

NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982

450.2305 Corporation organized upon directorship basis; members; voting; matters subject to action by board of directors.

Sec. 305.

(1) A corporation organized upon a directorship basis may or may not have members. If a corporation organized upon a directorship basis has members, the members shall not be entitled to vote.

(2) Unless the context of a provision of this act otherwise requires, all matters which are subject to membership vote or other action in this act in the case of a membership corporation shall be subject to duly authorized action by the board of directors of a directorship corporation.

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