2006 Michigan Compiled Laws - Mich. Comp. Laws § 450.2305 Corporation organized upon directorship basis; members; voting; matters subject to action by board of directors.
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Act 162 of 1982 450.2305 Corporation organized upon directorship basis; members; voting; matters subject to action by board of directors. Sec. 305. (1) A corporation organized upon a directorship basis may or may not have members. If a corporation organized upon a directorship basis has members, the members shall not be entitled to vote. (2) Unless the context of a provision of this act otherwise requires, all matters which are subject to membership vote or other action in this act in the case of a membership corporation shall be subject to duly authorized action by the board of directors of a directorship corporation.
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