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2017 Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 THE INSURANCE CODE OF 1956 (500.100 - 500.8302)
218-1956-52 CHAPTER 52 CORPORATE POWERS, PROCEDURES OF STOCK AND MUTUAL INSURERS (500.5200...500.5290)
Section 500.5234 Stockholders and members; voting rights, quorum.
Universal Citation: MI Comp L § 500.5234 (2017)
500.5234 Stockholders and members; voting rights, quorum.
Sec. 5234.
A majority of the shares entitled to vote on a particular subject matter at any meeting of the stockholders shall constitute a quorum for such vote unless otherwise provided by law or in the articles or in any bylaw adopted by the stockholders. A minimum of 10 members present in person shall constitute a quorum at any meeting of those insurers having members only and no stockholders, unless a larger number is specified in the articles or in any bylaw adopted by the members.
History: 1956, Act 218, Eff. Jan. 1, 1957
Popular Name: Act 218
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