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§ 450.4403 — Michigan Law | CourtGPT
  1. Home/
  2. Laws/
  3. Michigan/
  4. Chapter 450 - Corporationsact 327 of 1931 - Michigan General Corporation Statute (450.1 - 450.192)/
  5. Statute Act 23 of 1993/
  6. Article 4 - (450.4401...450.4409)/
  7. § 450.4403
Michigan Legal Code

§ 450.4403

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450.4403 Managers; selection; vote; removal; notice.Sec. 403. (1) A vote of a majority in interest of the members entitled to vote in accordance with section 502(1) is required to select 1 or more managers to fill initial positions or vacancies. (2) The members may remove 1 or more managers with or without cause unless an operating agreement provides that managers may be removed only for cause. (3) The members may remove a manager for cause only at a meeting called expressly for that purpose, and the manager shall have reasonable advance notice of the allegations against that manager and an opportunity to be heard at the meeting. History: 1993, Act 23, Eff. June 1, 1993 ;-- Am. 1997, Act 52, Imd. Eff. July 1, 1997 ;-- Am. 2002, Act 686, Imd. Eff. Dec. 30, 2002 ;-- Am. 2010, Act 290, Imd. Eff. Dec. 16, 2010