390.701 Albion college; creation; board of trustees; powers. Sec. 1. There is created a body corporate known as Albion college consisting of a board of trustees for the purpose of maintaining an institution of learning located at the city of Albion in the county of Calhoun. Albion college has all the corporate powers, privileges and […]
390.701a Definitions. Sec. 1a. As used in this act: (a) “Board of trustees” means the board of trustees of Albion college created in section 1. (b) “College” means Albion college, created in section 1. (c) “Nontrustee volunteer” means an individual, other than a volunteer trustee, performing services for the college who does not receive compensation […]
390.702 Board of trustees; membership; term of office; limitation. Sec. 2. (1) The board of trustees of Albion college shall consist of not more than 33 trustees, consisting of the following: (a) The president of the college. (b) Not more than 6 trustees, the number to be determined by the board of trustees, appointed by […]
390.702a Repealed. 1972, Act 137, Imd. Eff. May 18, 1972. Compiler’s Notes: The repealed section pertained to additional members of the board of trustees of Albion college.
390.703 Board of trustees; powers; course of study; conferring of degrees. Sec. 3. The said trustees shall have power to make by-laws for their own government and for the government of the institution; to elect or appoint the faculty or board of instruction of said college; to prescribe the course of study; to attend the […]
390.704 Repealed. 2011, Act 220, Imd. Eff. Nov. 15, 2011. Compiler’s Notes: The repealed section pertained to election of president of Albion college.
390.705 Powers of corporation. Sec. 5. The said corporation shall be capable of suing and being sued and receiving by gift, will or bequest, property, real and personal, and of holding and conveying the same. The said corporation shall have power to make and use a common seal, and to alter the same at pleasure. […]
390.705a Board of trustees; custodians of endowment funds. Sec. 5-a. The said board of trustees shall be the custodians of the endowment fund of said college and shall control the investment of the funds held for endowment purposes, whether general or special. Said board, in its management of said funds, may employ committees, individuals, banks, […]
390.706 Act declared public; non-user of privileges; misnomer in instrument. Sec. 6. This act shall be and hereby is declared to be a public act; no non-user of any of the privileges hereby granted to the said corporation shall create or produce a forfeiture of the same and no misnomer of said corporation in any […]
390.707 Breach of trustee’s or officer’s fiduciary duty; liability. Sec. 7. A volunteer trustee or a nontrustee volunteer who is an officer of the college has no personal liability to the college for monetary damages for a breach of the trustee’s or officer’s fiduciary duty. This provision does not eliminate or limit the liability of […]
390.707a Volunteer trustee; liability for acts or omissions. Sec. 7a. During the time that the college is tax exempt under section 501(c)(3) of the internal revenue code, 26 USC 501, the college assumes all liability to any person other than the college for all acts or omissions of a volunteer trustee incurred in the good […]
390.707b Volunteer trustee or nontrustee volunteer; liability of college; conditions. Sec. 7b. The college assumes the liability for all acts or omissions of a person who is a volunteer trustee or nontrustee volunteer occurring on or after the effective date of the amendatory act that added this section if all of the following are met: […]
390.707c Volunteer trustee or nontrustee volunteer; liability for claim for monetary damages. Sec. 7c. A claim for monetary damages for an act or omission of a volunteer trustee or a nontrustee volunteer shall not be brought or maintained against that volunteer trustee or nontrustee volunteer. The claim shall be brought and maintained against the college. […]
390.708 Repealed. 2011, Act 220, Imd. Eff. Nov. 15, 2011. Compiler’s Notes: The repealed section pertained to appointment of visitors.
