Michigan § 450.1535 - Removal or resignation of officers; contract rights.
Full text of Michigan Michigan Compiled Laws § 450.1535 — Removal or resignation of officers; contract rights., with citation guidance and answers to common questions.
§ 450.1535. Removal or resignation of officers; contract rights.
An officer elected or appointed by the board may be removed by the board with or without cause. An officer elected by the shareholders may be removed, with or without cause, only by vote of the shareholders, but his authority to act as an officer may be suspended by the board for cause.
The removal of an officer shall be without prejudice to his contract rights, if any. The election or appointment of an officer does not of itself create contract rights.
An officer may resign by written notice to the corporation. The resignation is effective upon its receipt by the corporation or at a subsequent time specified in the notice of resignation.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 450.1535
What does Michigan Compiled Laws § 450.1535 cover?
Section 450.1535 ("Removal or resignation of officers; contract rights.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 450.1535?
A common citation format is "Michigan Compiled Laws § 450.1535" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 450.1535 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.