Section 450.3146 - Effective date of adopted action; confirmation vote; filing with administrator.
NONPROFIT CORPORATION ACT (EXCERPT)
Act 162 of 1982
450.3146 Effective date of adopted action; confirmation vote; filing with administrator.
Sec. 1146.
(1) An action subject to the vote requirement of section 1145 shall not take effect for 60 days from the date of adoption and shall be subject to 1 confirmation vote as provided in subsection (2) if the action is adopted by less than a majority of all the members eligible to vote.
(2) If a petition of 15% or more of the members eligible to vote is presented to the cooperative prior to the sixtieth day after the adoption of the action, the cooperative shall cause a confirmation vote to be held. The cooperative shall cause a special meeting or, if authorized, mail ballot or referendum to be conducted within 45 days of receipt of the petition. The confirmation vote must achieve the vote which would have been required for original adoption. If confirmed, the action or amendment may take effect immediately after the confirmation or upon filing with the administrator, if such filing is required.
(3) If an action or amendment is subject to confirmation, a filing shall not be made with the administrator until the time for presenting a petition has expired or the action is confirmed.
History: Add. 1984, Act 209, Eff. Nov. 1, 1985