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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)
218-1956-82 CHAPTER 82 TRANSFORMATION OF FRATERNAL BENEFIT SOCIETIES (500.8204...500.8254)
Section 500.8224 Reorganization; members; referendum.
Universal Citation: MI Comp L § 500.8224 (2017)
500.8224 Reorganization; members; referendum.
Sec. 8224.
If the supreme governing body approves the plan of transformation, the board of directors or other managing body of such society shall submit the plan to a referendum vote of the members of such society, and if the result of such vote shall show that the majority of the members of such society has voted to repeal the action of the supreme governing body, then the same shall be considered as repealed by such society and shall be null and of no effect.
History: 1956, Act 218, Eff. Jan. 1, 1957
Popular Name: Act 218
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