Updated April 25, 2023
Michigan corporate bylaws are provisions that determine the operating procedures of a corporation and govern the rights and responsibilities of its members. Corporations are not required to adopt bylaws in Michigan. However, setting forth a comprehensive set of bylaws will benefit the corporation greatly by outlining the manner in which directors and officers are appointed, how meetings are scheduled, and policies regarding profit distribution. In addition to management regulations, the bylaws may cover the powers of shareholders and quorum requirements for voting.
Laws
- Annual Meetings – § 450.1402
- Corporate Bylaws – § 450.1223
- Issuance of Stock –§ 450.1301
Emergency Bylaws
A corporation may adopt bylaws that direct the management of the company and the rights and capabilities of its shareholders during an emergency scenario (§ 450.1261(d)).