457.64 Directors; powers; ex-officio members. Sec. 4. The management and direction of the interests, affairs, and property of such association shall be vested in a board of directors of not less than 5, nor more than 20, of whom the officers of such association shall be ex-officio members of said board. History: 1871, Act 99, Imd. Eff. Apr. 13, 1871 ;-- CL 1871, 3128 ;-- How. 4607 ;-- CL 1897, 7852 ;-- CL 1915, 10288 ;-- CL 1929, 10570 ;-- CL 1948, 457.64
Michigan Legal Code