331.1259 Board of trustees and subsidiary board; quorum; actions.
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331.1259 Board of trustees and subsidiary board; quorum; actions.
Sec. 259.
A majority of the trustees serving on a board or subsidiary board of a corporation incorporated by a city or village shall constitute a quorum for the transaction of business of the corporation or subsidiary corporation, respectively. Except as otherwise specifically provided in this act, actions taken by a board of trustees or subsidiary board shall be by a vote of a majority of the members serving on the board or subsidiary board.
History: Add. 1988, Act 502, Eff. Jan. 1, 1989