Michigan Compiled Laws, Chapter 454. Trade and Labor Associations § 454.201

Sec. 1. That any number of persons, not less than 3, may associate themselves together and become incorporated as a builders or a builders and traders exchange for the purpose of providing and regulating suitable rooms or places of meeting; to promote mechanical and industrial interests, to inculcate just and equitable principles of trade, to establish and maintain uniformity in commercial usages, by rules and regulations; to acquire, preserve and disseminate valuable business information; to adjust differences and settle disputes between members, or between members and others; and for other purposes conducive to the interests of members thereof.