Michigan Compiled Laws § 500.8232 Reorganization; Plan; Adoption Requirements.

500.8232 Reorganization; plan; adoption requirements.

Sec. 8232.

No such transformation shall take place until after its plan has been approved by the commissioner, either with or without a hearing as herein provided, and until such approved plan has been adopted by a majority vote of the board of directors or board of trustees of such society; and, if submitted to the supreme governing body, until such approved plan has also been adopted by a majority vote of the said supreme governing body present and voting.

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

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Last modified: October 10, 2016