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Section 450.1501 - Management of Corporation; Qualifications of Director. - Sec. 501. The business and affairs of a corporation shall...
Section 450.1505 - Number, Election, and Term of Directors; Resignation; Designation, Compensation, and Expenses of Independent Director; Communication of Independent Director With Shareholders. - Sec. 505. (1) The board shall consist of 1 or...
Section 450.1506 - Division of Directors Into Classes; Terms of Directors in First, Second, or Third Class; Election. - Sec. 506. (1) The articles of incorporation or a bylaw...
Section 450.1511 - Removal of Directors by Shareholders. - Sec. 511. (1) The shareholders may remove 1 or more...
Section 450.1514 - Removal of Director by Court. - Sec. 514. (1) The circuit court of the county in...
Section 450.1515 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to vacancy on board...
Section 450.1515a - Filling Vacancy in Board. - Sec. 515a. (1) Unless otherwise limited by the articles of...
Section 450.1521 - Regular or Special Meetings of Board. - Sec. 521. (1) Regular or special meetings of a board...
Section 450.1523 - Quorum; Majority Vote as Constituting Action of Board. - Sec. 523. (1) A majority of the members of the...
Section 450.1525 - Consent to Action of Board Without Meeting. - Sec. 525. (1) Unless prohibited by the articles of incorporation...
Section 450.1527 - Committees; Designation by Board; Membership; Absence or Disqualification of Member; Terms. - Sec. 527. (1) Unless otherwise provided in the articles of...
Section 450.1528 - Committees; Powers and Authority; Limitations; Subcommittees. - Sec. 528. (1) A committee designated under section 527, to...
Section 450.1529 - Submission of Matter to Shareholder Vote. - Sec. 529. A corporation may agree by contract to submit...
Section 450.1531 - Officers of Corporation; Election or Appointment; Holding 2 or More Offices; Authority and Duties. - Sec. 531. (1) The officers of a corporation shall consist...
Section 450.1535 - Removal or Resignation of Officers; Contract Rights. - Sec. 535. (1) An officer elected or appointed by the...
Section 450.1541 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to discharge of duties...
Section 450.1541a - Director or Officer; Manner of Discharging Duties; Reliance on Information, Opinions, Reports, or Statements; Action Against Director or Officer; Limitations. - Sec. 541a. (1) A director or officer shall discharge his...
Section 450.1545 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to contracts or transactions...
Section 450.1545a - Interest of Director or Officer in Transaction; Compensation of Directors. - Sec. 545a. (1) A transaction in which a director or...
Section 450.1546 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to validity of contract...
Section 450.1548 - Loan, Guaranty, or Assistance by Corporation to Director, Officer, or Employee. - Sec. 548. (1) A corporation may lend money to, guarantee...
Section 450.1551 - Liability of Directors for Corporate Actions; Liability of Shareholders Accepting or Receiving Share Dividend or Distribution. - Sec. 551. (1) Directors who vote for, or concur in,...
Section 450.1552 - Rights of Director Against Whom Claim Is Successfully Asserted Under MCL 450.1551. - Sec. 552. (1) A director against whom a claim is...
Section 450.1553 - Presumption of Concurrence by Director in Corporation Action; Effect of Dissent. - Sec. 553. A director who is present at a meeting...
Section 450.1554 - Action Against Director or Shareholder; Limitation. - Sec. 554. An action against a director or shareholder for...
Section 450.1561 - Indemnification of Certain Persons Generally. - Sec. 561. A corporation has the power to indemnify a...
Section 450.1562 - Additional Provisions for Indemnification of Certain Persons. - Sec. 562. A corporation has the power to indemnify a...
Section 450.1563 - Indemnification Against Actual and Reasonable Expenses. - Sec. 563. To the extent that a director or officer...
Section 450.1564 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989. - Compiler's Notes: The repealed section pertained to payment of defense...
Section 450.1564a - Indemnification Under MCL 450.1561, MCL 450.1562, or MCL 450.1563; Determination and Evaluation; Designation of Committee or Selection of Independent Legal Counsel; Partial Indemnification; Payment Authorization; Indemnification f... - Sec. 564a. (1) Except as otherwise provided in subsection (5),...
Section 450.1564b - Payment or Reimbursement of Party in Advance of Final Disposition of Proceeding; Undertaking as Unlimited General Obligation; Evaluation of Reasonableness; Advancement of Expenses. - Sec. 564b. (1) A corporation may pay or reimburse the...
Section 450.1564c - Application for Indemnification to Court; Determination. - Sec. 564c. A director, officer, employee, or agent of the...
Section 450.1565 - Limitation on Total Amount of Expenses Advanced or Indemnified; Duration of Indemnification; Elimination or Impairment. - Sec. 565. (1) The indemnification or advancement of expenses provided...
Section 450.1567 - Liability Insurance. - Sec. 567. (1) A corporation may purchase and maintain insurance...
Section 450.1569 - “Corporation” Defined for Purposes of MCL 450.1561 to 450.1567; "Business Organization" Defined. - Sec. 569. (1) For purposes of sections 561 to 567,...
Section 450.1571 - Definitions. - Sec. 571. For the purposes of sections 561 to 567:...