Michigan Laws 457.156 – Control of business of corporation
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Terms Used In Michigan Laws 457.156
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The management, direction, and control of the property and business of such corporation shall be vested in such of its officers and members as a majority of its members present and acting thereon at any regular meeting of the assembly shall from time to time determine.