Michigan Compiled Laws
Act 162 of 1982 - Nonprofit Corporation Act (450.2101 - 450.3192)
162-1982-5 - Chapter 5 (450.2501...450.2571)

Section 450.2501 - Board of Directors; Management of Business and Affairs of Corporation; Qualifications; Powers. - Sec. 501. (1) The business and affairs of a corporation...

Section 450.2501a - Board of Directors; Minimum Age; Requirements. - Sec. 501a. (1) A corporation organized for purposes described in...

Section 450.2505 - Board; Number, Term, Election or Appointment, and Resignation of Directors. - Sec. 505. (1) The bylaws shall fix the number of...

Section 450.2506 - Dividing Directors Up to 5 Classes; Election or Appointment; Term; Expiration. - Sec. 506. (1) The articles of incorporation or a bylaw...

Section 450.2511 - Removal of Director; Vote. - Sec. 511. (1) The shareholders or members of a corporation...

Section 450.2514 - Removal of Director by Circuit Court. - Sec. 514. (1) The circuit court for the county in...

Section 450.2515 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to filling of vacancies...

Section 450.2515a - Vacancy. - Sec. 515a. (1) Unless otherwise limited in the articles of...

Section 450.2521 - Regular or Special Meetings of Board; Location; Notice; Attendance or Participation as Waiver of Notice; Participation by Means of Conference Telephone or Other Remote Communication. - Sec. 521. (1) A board may hold regular or special...

Section 450.2523 - Quorum; Vote Constituting Action of Board or Committee; Amendment of Bylaws. - Sec. 523. (1) A majority of the members of a...

Section 450.2525 - Taking Action Without Meeting; Consent. - Sec. 525. Unless prohibited by the articles of incorporation or...

Section 450.2527 - Designation of Committees; Membership; Alternates; Absent or Disqualified Member; Providing for Election or Appointment of Committees in Articles or Bylaws. - Sec. 527. (1) Unless otherwise provided in the articles of...

Section 450.2528 - Executive Committee Designated Under MCL 450.2527(1) or (3); Powers and Authority; Subcommittees. - Sec. 528. (1) An executive committee that is designated under...

Section 450.2529 - Submitting Matter to Vote. - Sec. 529. A corporation may agree to submit a matter...

Section 450.2531 - Officers of Corporation; Membership; Election or Appointment; Individual Holding 2 or More Offices; Term of Office; Authority and Duties. - Sec. 531. (1) The officers of a corporation shall consist...

Section 450.2535 - Removal of Officer; Suspension of Authority to Act; Contract Rights; Resignation of Officer; Notice. - Sec. 535. (1) An officer elected or appointed by the...

Section 450.2541 - Director or Officer; Discharge of Duties; Manner; Reliance on Certain Information; Compliance; Liability; Claim for Monetary Damages for Breach of Volunteer Director's Duty; Commencement of Action. - Sec. 541. (1) A director or officer shall discharge his...

Section 450.2545 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to transaction between corporation...

Section 450.2545a - Transaction in Which Director or Officer Has Interest. - Sec. 545a. (1) A transaction in which a director or...

Section 450.2546 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to establishing validity of...

Section 450.2548 - Loan, Guaranty, or Assistance by Corporation for Officer or Employee. - Sec. 548. (1) Unless otherwise prohibited by law or prohibited...

Section 450.2551 - Liability of Directors for Certain Corporate Actions; Liability of Shareholder or Member Accepting or Receiving Distribution Contrary to Act. - Sec. 551. (1) Directors who vote for or concur in...

Section 450.2552 - Rights of Director Against Whom Claim Successfully Asserted Under MCL 450.2551. - Sec. 552. (1) A director against whom a claim is...

Section 450.2553 - Presence or Absence of Director at Meeting at Which Action Under MCL 450.2551 Taken; Presumption; Dissent. - Sec. 553. (1) If a director is present at a...

Section 450.2554 - Commencement of Action Under MCL 450.2551 or 450.2552. - Sec. 554. An action against a director, shareholder, or member...

Section 450.2556 - Volunteer's Acts or Omissions; Claim for Monetary Damages. - Sec. 556. If the corporation's articles of incorporation contain a...

Section 450.2561 - Indemnification of Director, Officer, Partner, Trustee, Employee, Nondirector Volunteer, or Agent in Connection With Action, Suit, or Proceeding; Conditions; Presumption. - Sec. 561. Unless otherwise provided by law or the articles...

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. - Sec. 562. Unless otherwise provided by law or in the...

Section 450.2563 - Indemnification for Expenses of Director, Officer, or Nondirector Volunteer Successful in Defense of Action, Suit, or Proceeding Referred to in MCL 450.2561 or 450.2562. - Sec. 563. Unless otherwise provided by law or under the...

Section 450.2564 - Repealed. 2014, Act 557, Imd. Eff. Jan. 15, 2015. - Compiler's Notes: The repealed section pertained to advance payment by...

Section 450.2564a - Indemnification of Director, Officer, Employee, Nondirector Volunteer, or Agent Under MCL 450.2561 or 450.2562; Authorization; Basis; Determination; Evaluation; Designation of Committee or Selection of Legal Counsel; Indemnificati... - Sec. 564a. (1) Except as otherwise provided in subsection (5),...

Section 450.2564b - Expenses Incurred by Director, Officer, Employee, Nondirector Volunteer, or Agent; Reimbursement; Agreement; Advances. - Sec. 564b. (1) A corporation may pay or reimburse the...

Section 450.2564c - Indemnification of Director, Officer, Employee, Nondirector Volunteer, or Agent; Application to Court; Determination. - Sec. 564c. A director, officer, employee, nondirector volunteer, or agent...

Section 450.2565 - Indemnification or Advance of Expenses Not Exclusive of Other Rights; Limitation; Continuation; Amended Provision. - Sec. 565. (1) An indemnification or advance of expenses provided...

Section 450.2567 - Purchase and Maintenance of Insurance on Behalf of Director, Officer, Employee, Nondirector Volunteer, or Agent. - Sec. 567. (1) A corporation may purchase and maintain insurance...

Section 450.2569 - Scope of "Corporation" for Purposes of MCL 450.2561 to 450.2567. - Sec. 569. For purposes of sections 561 to 567, "corporation"...

Section 450.2571 - Definitions. - Sec. 571. As used in sections 561 to 567: (a)...