Section 125.2617 - Disclosure of interest in matter before corporation.
ENTERPRISE COMMUNITY DEVELOPMENT CORPORATION ACT (EXCERPT)
Act 123 of 1995
125.2617 Disclosure of interest in matter before corporation.
Sec. 17.
A director who has either a direct or indirect interest in a matter before the corporation shall disclose that interest before the corporation takes action on the matter. This disclosure shall be made a part of the record of the corporation's official proceedings and the interested director shall refrain from participation in the corporation relating to the matter.
History: 1995, Act 123, Imd. Eff. June 30, 1995