Michigan Compiled Laws
284-1972-5 - Chapter 5 Directors and Officers (450.1501...450.1571)
Section 450.1546 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Michigan Compiled Laws

Chapter 450 - Corporations

Act 284 of 1972 - Business Corporation Act (450.1101 - 450.2099)

284-1972-5 - Chapter 5 Directors and Officers (450.1501...450.1571)

Section 450.1501 - Management of Corporation; Qualifications of Director.

Section 450.1505 - Number, Election, and Term of Directors; Resignation; Designation, Compensation, and Expenses of Independent Director; Communication of Independent Director With Shareholders.

Section 450.1506 - Division of Directors Into Classes; Terms of Directors in First, Second, or Third Class; Election.

Section 450.1511 - Removal of Directors by Shareholders.

Section 450.1514 - Removal of Director by Court.

Section 450.1515 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Section 450.1515a - Filling Vacancy in Board.

Section 450.1521 - Regular or Special Meetings of Board.

Section 450.1523 - Quorum; Majority Vote as Constituting Action of Board.

Section 450.1525 - Consent to Action of Board Without Meeting.

Section 450.1527 - Committees; Designation by Board; Membership; Absence or Disqualification of Member; Terms.

Section 450.1528 - Committees; Powers and Authority; Limitations; Subcommittees.

Section 450.1529 - Submission of Matter to Shareholder Vote.

Section 450.1531 - Officers of Corporation; Election or Appointment; Holding 2 or More Offices; Authority and Duties.

Section 450.1535 - Removal or Resignation of Officers; Contract Rights.

Section 450.1541 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Section 450.1541a - Director or Officer; Manner of Discharging Duties; Reliance on Information, Opinions, Reports, or Statements; Action Against Director or Officer; Limitations.

Section 450.1545 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Section 450.1545a - Interest of Director or Officer in Transaction; Compensation of Directors.

Section 450.1546 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

Section 450.1548 - Loan, Guaranty, or Assistance by Corporation to Director, Officer, or Employee.

Section 450.1551 - Liability of Directors for Corporate Actions; Liability of Shareholders Accepting or Receiving Share Dividend or Distribution.

Section 450.1552 - Rights of Director Against Whom Claim Is Successfully Asserted Under MCL 450.1551.

Section 450.1553 - Presumption of Concurrence by Director in Corporation Action; Effect of Dissent.

Section 450.1554 - Action Against Director or Shareholder; Limitation.

Section 450.1561 - Indemnification of Certain Persons Generally.

Section 450.1562 - Additional Provisions for Indemnification of Certain Persons.

Section 450.1563 - Indemnification Against Actual and Reasonable Expenses.

Section 450.1564 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.

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...

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.

Section 450.1564c - Application for Indemnification to Court; Determination.

Section 450.1565 - Limitation on Total Amount of Expenses Advanced or Indemnified; Duration of Indemnification; Elimination or Impairment.

Section 450.1567 - Liability Insurance.

Section 450.1569 - “Corporation” Defined for Purposes of MCL 450.1561 to 450.1567; "Business Organization" Defined.

Section 450.1571 - Definitions.