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Code · Michigan · Chapter 486 — Water and Power Companies

486.104 Board of directors; members, election, qualification.

92 words·~1 min read·/mi/chapter-486/486-104

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486.104 Board of directors; members, election, qualification.
Sec. 4.
The business and property of such company shall be managed and directed by a board of not less than 5 nor more than 7 directors, who shall be elected annually, and at such time and place as said by-laws may direct. No person shall be a director unless he is a stockholder in the corporation.
History: 1887, Act 202, Imd. Eff. June 18, 1887 ;-- How. 3895u ;-- CL 1897, 6809 ;-- CL 1915, 8907 ;-- CL 1929, 11842 ;-- CL 1948, 486.104
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