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Current as of January 01, 2025 | Updated by Findlaw Staff
Sec. 403. (1) A vote of a majority in interest of the members entitled to vote in accordance with section 502(1) 1 is required to select 1 or more managers to fill initial positions or vacancies.
(2) The members may remove 1 or more managers with or without cause unless an operating agreement provides that managers may be removed only for cause.
(3) The members may remove a manager for cause only at a meeting called expressly for that purpose, and the manager shall have reasonable advance notice of the allegations against that manager and an opportunity to be heard at the meeting.
Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 450. Corporations § 450.4403 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-450-corporations/mi-comp-laws-450-4403/
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