Michigan § 500.5424 - Directors and officers; number; election.
Full text of Michigan Michigan Compiled Laws § 500.5424 — Directors and officers; number; election., with citation guidance and answers to common questions.
§ 500.5424. Directors and officers; number; election.
The management of the business and affairs of such an insurer shall be vested in a board of directors. Every such insurer shall have not less than 5 nor more than 17 directors, and such officers as shall be provided for in the articles of incorporation or in the bylaws. The directors shall be elected at the annual meetings of the members but any time after the first annual meeting the directors may be divided into 3 groups as nearly equal as possible and thereafter 1 group only elected in a manner to be provided by the bylaws.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.5424
What does Michigan Compiled Laws § 500.5424 cover?
Section 500.5424 ("Directors and officers; number; election.") 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 § 500.5424?
A common citation format is "Michigan Compiled Laws § 500.5424" (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 § 500.5424 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.