§ 500.8232

500.8232 Reorganization; plan; adoption requirements. Sec. 8232. No such transformation shall take place until after its plan has been approved by the commissioner, either with or without a hearing as herein provided, and until such approved plan has been adopted by a majority vote of the board of directors or board of trustees of such society; and, if submitted to the supreme governing body, until such approved plan has also been adopted by a majority vote of the said supreme governing body present and voting. History: 1956, Act 218, Eff. Jan. 1, 1957 Popular Name: Act 218