Mich. Comp. Laws § 457.74: By-laws and rules; officers.

Sec. 4.

Said corporation shall have the power to make and establish rules, regulations and by-laws for regulating and governing all the officers and business of said corporation not repugnant to the laws of this state or of the United States, and to designate, elect or appoint from its members such officers under such name and style as shall be in accordance with the constitution of the union.