456.8 Board of trustees; election; terms.
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456.8 Board of trustees; election; terms.
Sec. 8.
Any 7 or more persons who meet in pursuance of the notice described in section 7 may elect by ballot a board of trustees consisting of at least 9 but not more than 12 members. The first trustees elected shall be divided as nearly as possible into 3 equal groups with terms of each group as follows:
(a)1 group for 1 year.
(b)1 group for 2 years.
(c)1 group for 3 years.
Upon expiration of the terms of the members first elected, successors shall be elected in a like manner for terms of 3 years each and shall serve until their successors are elected and have filed their acceptance. However, if any corporation now organized under this act has any trustees whose term of office does not expire at the date of its next annual meeting, it shall then elect only the number of trustees that will increase its board to at least 9 but not more than 12 members. At the election, the persons having the highest number of votes for trustee shall be considered elected.
History: 1855, Act 87, Imd. Eff. Feb. 12, 1855 ;-- CL 1857, 1724 ;-- CL 1871, 3381 ;-- Am. 1873, Act 128, Imd. Eff. Apr. 22, 1873 ;-- Am. 1881, Act 105, Imd. Eff. Apr. 22, 1881 ;-- How. 4735 ;-- CL 1897, 8369 ;-- CL 1915, 11129 ;-- CL 1929, 10408 ;-- CL 1948, 456.8 ;-- Am. 1996, Act 407 , Imd. Eff. Oct. 21, 1996