Mich. Comp. Laws § 457.367
Current through Public Act 156 of the 2024 Legislative Session
Every such corporation shall have power to provide by its by-laws for succession to its original membership and for new membership; and shall also have power to provide by its by-laws for the election from its stockholders of a board of trustees, and to fix the number and term of office of such trustees. But such board of trustees shall not be less than 5 and such term of office shall not exceed 3 years. Such board of trustees shall consist of an equal number from each subordinate chartered lodge of Knights of Pythias owning and holding shares of stock in said corporation as a lodge and situated in the town or city where the property of said corporation is located.
MCL 457.367