Mich. Comp. Laws § 455.305
Current through Public Act 122 of the 2024 Legislative Session
The corporation shall not have any shares of stock or be for pecuniary profit. It shall have not less than 5 directors to be chosen annually from and by the members at the time and place fixed by the by-laws, they to hold office for 1 year and until their successors are elected. The directors shall manage the affairs of the corporation.
MCL 455.305