284-1972-5 - CHAPTER 5 DIRECTORS AND OFFICERS (450.1501...450.1571)
- Section 450.1501 - Management of corporation; qualifications of director.
- Section 450.1505 - Number, election, and term of directors; resignation; designation, compensation, and expenses of independent director; communication of independent director with shareholders.
- Section 450.1506 - Division of directors into classes; terms of directors in first, second, or third class; election.
- Section 450.1511 - Removal of directors by shareholders.
- Section 450.1514 - Removal of director by court.
- Section 450.1515 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
- Section 450.1515a - Filling vacancy in board.
- Section 450.1521 - Regular or special meetings of board.
- Section 450.1523 - Quorum; majority vote as constituting action of board.
- Section 450.1525 - Consent to action of board without meeting.
- Section 450.1527 - Committees; designation by board; membership; absence or disqualification of member; terms.
- Section 450.1528 - Committees; powers and authority; limitations; subcommittees.
- Section 450.1531 - Officers of corporation; election or appointment; holding 2 or more offices; authority and duties.
- Section 450.1535 - Removal or resignation of officers; contract rights.
- Section 450.1541 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
- Section 450.1541a - Director or officer; manner of discharging duties; reliance on information, opinions, reports, or statements; action against director or officer; limitations.
- Section 450.1545 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
- Section 450.1545a - Interest of director or officer in transaction; compensation of directors.
- Section 450.1546 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
- Section 450.1548 - Loan, guaranty, or assistance by corporation to director, officer, or employee.
- Section 450.1551 - Liability of directors for corporate actions; liability of shareholders accepting or receiving share dividend or distribution.
- Section 450.1552 - Rights of director against whom claim is successfully asserted under MCL 450.1551.
- Section 450.1553 - Presumption of concurrence by director in corporation action; effect of dissent.
- Section 450.1554 - Action against director or shareholder; limitation.
- Section 450.1561 - Indemnification of certain persons generally.
- Section 450.1562 - Additional provisions for indemnification of certain persons.
- Section 450.1563 - Indemnification against actual and reasonable expenses.
- Section 450.1564 - Repealed. 1989, Act 121, Eff. Oct. 1, 1989.
- Section 450.1564a - Indemnification under MCL 450.1561, MCL 450.1562, or MCL 450.1563; determination and evaluation; designation of committee or selection of independent legal counsel; partial indemni
- Section 450.1564b - Payment or reimbursement of party in advance of final disposition of proceeding; undertaking as unlimited general obligation; evaluation of reasonableness; advancement of expenses.
- Section 450.1564c - Application for indemnification to court; determination.
- Section 450.1565 - Limitation on total amount of expenses advanced or indemnified; duration of indemnification.
- Section 450.1567 - Liability insurance.
- Section 450.1569 - “Corporation” defined for purposes of MCL 450.1561 to 450.1567.
- Section 450.1571 - Definitions.