Sec. 301. Each corporation and subsidiary corporation governed by this act shall possess all of the powers necessary to carry out the purposes of its incorporation and those incident thereto. Such powers shall be vested in and exercised by its board of trustees or subsidiary board. The enumeration of any powers in this act shall not be considered as a limitation upon the general powers of the corporation or subsidiary corporation.
Mich. Comp. Laws § 331.1301
Corporation and subsidiary corporation; powers generally
Applied in 1 court decision — leading case 184 Mich. App. 282 - Petrus v. Dickinson County Board of Commissioners (1990)
Most recently applied in 184 Mich. App. 282 - Petrus v. Dickinson County Board of Commissioners (June 1990)
1987, Act 230, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.