Sec. 9.
The directors at their first meeting after their election, shall choose, by ballot, 1 of their number as president, and 1 as treasurer, and they shall supply any vacancy in the office of president or treasurer, whenever the same shall occur.
History: 1869, Act 149, Imd. Eff. Apr. 5, 1869 ;-- CL 1871, 2724 ;-- How. 3853 ;-- CL 1897, 6729 ;-- CL 1915, 8830 ;-- CL 1929, 11765 ;-- CL 1948, 485.109
Structure Michigan Compiled Laws
Chapter 485 - Canal, Harbor, and River Improvement Companies
Act 149 of 1869 - River Improvement Companies (485.101 - 485.129)
Section 485.101 - Corporations to Improve on Rivers; Formation; Tolls.
Section 485.103 - Body Corporate; Powers; Governing Law.
Section 485.104 - Improvement of Streams; Consent of Governor and Attorney General.
Section 485.106 - Directors; Powers, Election, Term, Vacancy, Qualification.
Section 485.107 - Directors; Calling of Election.
Section 485.108 - Directors; Majority Control.
Section 485.109 - Directors; President; Treasurer; Selection, Vacancy.
Section 485.110 - President and Directors; Powers.
Section 485.111 - Subscriptions; Increase in Capital Stock, Certificate, Filing.
Section 485.112 - Subscriptions; Calling In; Sale, Procedure, Purchaser's Rights.
Section 485.113 - Corporate Powers.
Section 485.114 - Tolls; Forfeiture of Right to Collect.
Section 485.116 - Tolls; Improved Streams Open to All.
Section 485.117 - Tolls; Collection.
Section 485.118 - Lien on Floatables; Sale, Procedure.
Section 485.119 - Stream to Be Kept in Repair; Forfeiture.
Section 485.120 - Injury to Stream or Property; Penalty.
Section 485.121 - Log Jam; Power to Break, Lien for Cost.
Section 485.122 - Lien; Enforcement.
Section 485.123 - Lien on Floatables; Owner Unknown or Without Jurisdiction of Court.
Section 485.124 - Annual Report; Contents.
Section 485.126 - Stockholder's Liability; Recovery Prerequisites.