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Presence or Absence of Director At Meeting At Which Action Referred to in Mcl 450.2551 Taken; Presumption; Dissent - Mich. Comp. Laws Section 450.2553

Legal Research Home > Michigan Laws > Corporations > Presence or Absence of Director At Meeting At Which Action Referred to in Mcl 450.2551 Taken; Presumption; Dissent - Mich. Comp. Laws Section 450.2553

Sec. 553.

A director who is present at a meeting of the board, or a committee thereof of which the director is a member, at which action on a corporate matter referred to in section 551 is taken, is presumed to have concurred in that action unless a dissent is entered in the minutes of the meeting or unless the director files a written dissent to the action with the person acting as secretary of the meeting before or promptly after the adjournment thereof. The right to dissent does not apply to a director who voted in favor of the action. A director who is absent from a meeting of the board, or a committee thereof of which the director is a member, at which any such action is taken is presumed to have concurred in the action unless the director files a dissent with the secretary of the corporation within a reasonable time after obtaining knowledge of the action.

History: 1982, Act 162, Eff. Jan. 1, 1983

Last modified: March 17, 2013