Michigan law · Nonprofit Corporation Act

MCL 450.2501

Board of directors; management of business and affairs of corporation; qualifications; powers

Covered in 2 owner guides

What this section does for you

Gives the board authority over corporate business and affairs "except as otherwise provided" in the articles, the general corporate-law backbone that leaves fining entirely to a subdivision HOA's own documents.
Owner guide: Fines & violations in Michigan
Gives the board authority over corporate affairs except as the articles otherwise provide, the same corporate-law anchor that leaves architectural control to a subdivision HOA's own documents entirely.
Owner guide: Architectural review in Michigan

The statutory text

Verbatim from the public record. The law itself is a government work — always confirm the current version on the official source before you rely on it.

Sec. 501. (1) The business and affairs of a corporation shall be managed by or under the direction of its board, except as otherwise provided in this act or in its articles of incorporation. A director is not required to be a shareholder or member of the corporation unless the articles of incorporation or bylaws so require. The articles of incorporation or bylaws may prescribe qualifications for directors. (2) The board of a corporation that is subject to the uniform prudent management of institutional funds act, 2009 PA 87, MCL 451.921 to 451.931, has the powers granted under both that act and this act. In the event of an inconsistency between the 2 acts, the uniform prudent management of institutional funds act, 2009 PA 87, MCL 451.921 to 451.931, controls. History: 1982, Act 162, Eff. Jan. 1, 1983; Am. 2009, Act 88, Imd. Eff. Sept. 10, 2009; Am. 2014, Act 557, Imd. Eff. Jan. 15, 2015