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Reorganization; Members; Referendum - Mich. Comp. Laws Section 500.8224

Legal Research Home > Michigan Laws > Insurance Code Of 1956 > Reorganization; Members; Referendum - Mich. Comp. Laws Section 500.8224

500.8224 Reorganization; members; referendum.

Sec. 8224.

If the supreme governing body approves the plan of transformation, the board of directors or other managing body of such society shall submit the plan to a referendum vote of the members of such society, and if the result of such vote shall show that the majority of the members of such society has voted to repeal the action of the supreme governing body, then the same shall be considered as repealed by such society and shall be null and of no effect.

History: 1956, Act 218, Eff. Jan. 1, 1957
Popular Name: Act 218

Section: Previous 500.8208 500.8210 500.8212 500.8214 500.8216 500.8218 500.8220 500.8224 500.8228 500.8232 500.8240 500.8242 500.8246 500.8250 500.8254 Next

Last modified: March 17, 2013