Sec. 203.
(1) Each appointed retirement board member, before assuming office, shall take an oath of office. An appointed retirement board member shall immediately file the oath of office with the secretary of state. A retirement board member is a trustee of the retirement system.
(2) A majority of the retirement board constitutes a quorum for the transaction of business at a meeting of the retirement board. An appointed retirement board member who fails to attend 2 consecutive, regularly scheduled meetings of the retirement board and whose absence is not excused by the retirement board is considered to have resigned from retirement board membership. The retirement board shall declare the appointed retirement board member's office vacated as of the date of adoption of a proper resolution.
(3) The retirement board shall elect from its membership a chairperson and vice chairperson. The chairperson and vice chairperson of the retirement board shall take office immediately upon election and serve until a successor is elected.
History: 1992, Act 234, Eff. Mar. 31, 1993
Structure Michigan Compiled Laws
Chapter 38 - Civil Service and Retirement
Act 234 of 1992 - The Judges Retirement Act of 1992 (38.2101 - 38.2670)
Article II - (38.2201...38.2217)
Section 38.2201 - Michigan Judges Retirement System; Creation; Purpose.
Section 38.2206 - State Treasurer as Treasurer of Retirement System; Authority; Duties.
Section 38.2207 - Attorney General as Retirement Board Attorney.
Section 38.2208 - Administration of Retirement System.
Section 38.2209 - Annual Report.
Section 38.2210 - Reserve for Member Contributions.
Section 38.2211 - Reserve for Employer Contributions.
Section 38.2212 - Reserve for Retirement Benefits.
Section 38.2213 - Reserve for Investment Income.
Section 38.2214 - Reserve for Health Benefits.
Section 38.2214a - Postretirement Medical Benefits.
Section 38.2215 - Determination of Actuarial Cost; Establishing Method; Calculation.
Section 38.2216 - Compliance With Reciprocal Retirement Act.