162-1982-5 - CHAPTER 5 (450.2501...450.2569)
- Section 450.2501 - Management of business and affairs of corporation by board; qualifications of directors; powers of board.
- Section 450.2501a - Board of directors; minimum age; requirements.
- Section 450.2505 - Board; number, term, and election or appointment of directors; resignation of director; number of directors on effective date of amendatory act.
- Section 450.2506 - Dividing directors into 2 or more classes; election or appointment; term; expiration; election of directors by shareholders or members of class.
- Section 450.2511 - Removal of director or entire board.
- Section 450.2515 - Filling of vacancies; increase in number of directors; special meeting where no directors in office.
- Section 450.2521 - Regular or special meetings of board; location; notice; waiver; participation by means of conference telephone or other remote communication.
- Section 450.2523 - Quorum; vote constituting action of board or committee; amendment of bylaws.
- Section 450.2525 - Taking action without meeting; consent.
- Section 450.2527 - Designation of committees; membership; alternates; term; providing for election or appointment of committees in articles or bylaws.
- Section 450.2528 - Committee designated pursuant to MCL 450.2527; powers and authority.
- Section 450.2531 - Officers of corporation; election or appointment; person holding 2 or more offices; term of office; authority and duties.
- Section 450.2535 - Removal of officer; suspension of authority to act; contract rights; resignation of officer; notice.
- Section 450.2541 - Director or officer; discharge of duties; compliance; liability of volunteer director; action against director or officer for failure to perform duties.
- Section 450.2545 - Transaction between corporation and directors or officers, or between corporation and corporation or business corporation, firm, or association in which directors or officers intere
- Section 450.2546 - Burden of establishing validity of contract described in MCL 450.2545; grounds; counting common or interested directors in determining presence of quorum; compensation of directors;
- Section 450.2548 - Loan, guaranty, or assistance by corporation for officer or employee; corporation as charitable purpose corporation.
- Section 450.2551 - Liability of directors for certain corporate actions; liability of shareholder or member accepting or receiving unauthorized distribution.
- Section 450.2552 - Rights of director against whom claim successfully asserted under MCL 450.2551.
- Section 450.2553 - Presence or absence of director at meeting at which action referred to in MCL 450.2551 taken; presumption; dissent.
- Section 450.2554 - Commencement of action under MCL 450.2551 or 450.2552.
- Section 450.2556 - Volunteer's acts or omissions; claim for monetary damages.
- Section 450.2561 - Indemnification of director, officer, partner, trustee, employee, nondirector volunteer, or agent in connection with action, suit, or proceeding; conditions; presumption.
- Section 450.2562 - Indemnification against expenses of director, officer, partner, trustee, employee, nondirector volunteer, or agent in connection with action or suit by or in right of corporation; c
- Section 450.2563 - Indemnification against expenses of director, officer, employee, nondirector volunteer, or agent successful in defense of action, suit, or proceeding referred to in MCL 450.2561 or
- Section 450.2564 - Advance payment by corporation of expenses incurred in defending action, suit, or proceeding described in MCL 450.2561 or 450.2562; repayment.
- Section 450.2565 - Indemnification or advancement of expenses not exclusive of other rights; limitation; continuation of indemnification.
- Section 450.2567 - Purchase and maintenance of insurance on behalf of director, officer, employee, nondirector volunteer, or agent.
- Section 450.2569 - Scope of “corporation” for purposes of MCL 450.2561 to 450.2567; effect.