455.209 Board of trustees; officers, quorum, vacancy. Sec. 9. Immediately following the election of trustees, the trustees so chosen shall elect a president, vice-president, secretary and treasurer from their members, who shall hold their offices for 1 year and until their successors shall be elected and qualified. They shall discharge the usual duties of such offices and such other duties as may be prescribed by the by-laws and orders of the corporation. Two-thirds of the members of the board shall constitute a quorum for the transaction of business, and any vacancy in the board may be filled by the remaining members, and the appointee shall hold office until the next annual meeting of the corporation. History: 1929, Act 137, Eff. Aug. 28, 1929 ;-- CL 1929, 10371 ;-- CL 1948, 455.209
Michigan Legal Code