{"data":{"id":"us-mi/mich.-comp.-laws-457.205","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 457.205","heading":"Board of trustees; election, quorum; officers, appointment, duties.","body":"Sec. 5.\n\nThe stockholders, each of whom shall be entitled to 1 vote for each share of stock held by him, may elect from their number a board of trustees of not less than 6 nor more than 15 members, a majority of whom shall constitute a quorum, and the trustees shall appoint from their own number a president, secretary and treasurer, who shall perform the duties of their respective offices in accordance with the rules and regulations which may be prescribed by the board of trustees.","path":["MI Code","Chapter 457","Act Act-145-of-1865"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-457-205","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"916ecfb3de0022ca4d027207cd80e9e33c6a4857b5a7e88fd5f2fef679477a82","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-457.204","next":"us-mi/mich.-comp.-laws-457.206"},"notice":"GroundRules: Original legal text. Not legal advice."}