Sec. 3107.
The organizational meeting of every bank shall be called by a notice designating the time and place of the meeting and stating the purpose for which the meeting is called. The notice shall be served personally on all the incorporators at least 5 days before the date set for the meeting. If all the incorporators are present at the meeting or in writing waive notice, then no notice shall be required for the organizational meeting.
History: 1999, Act 276, Eff. Mar. 1, 2000
Structure Michigan Compiled Laws
Chapter 487 - Financial Institutions
Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)
276-1999-3 - Chapter 3 Bank Organization and Structure (487.13101...487.13913)
276-1999-3-1 - Part 1 Formation (487.13101...487.13108)
Section 487.13101 - Bank Organization Generally.
Section 487.13102 - Bank Organization; Application.
Section 487.13103 - Organization of Depository Institutions Generally.
Section 487.13104 - Expenses of Incorporators; Reimbursement.
Section 487.13105 - Bank as Body Corporate; Authorization.
Section 487.13106 - Commencement of Business.