Opinion
No. 112675.
May 18, 1999.
In lieu of granting leave to appeal, we REVERSE the judgment of the Court of Appeals is reversed and the judgment of the Oakland Circuit Court dated January 17, 1996, granting summary disposition to the defendants. The Court of Appeals erred by holding that the defendant violated MCL 450.402; MSA 21.200(1402). The Board's conduct, within 15 months after the corporation's last annual meeting, of designating a future annual meeting date (November 30, 1995), was in compliance with the statute. The subsequent action of adopting a resolution designating the board of directors was validly taken without a meeting pursuant to MCL 450.1407; MSA 21.200(407) because the action was taken pursuant to the written consent of the sole shareholder at the time.
Reconsideration denied August 31, 1999.