457.226 Succession and by-laws.
Sec. 6.
Every such corporation shall have power to provide by its by-laws for succession to its original membership and for new membership; and shall also have power to provide by its by-laws for election from its members of a board of trustees and to fix the number and term of office of such trustees; but such board shall not be less than 5 in number and such term of office shall not exceed 3 years.
History: 1895, Act 1, Imd. Eff. Feb. 15, 1895 ;– CL 1897, 7975 ;– CL 1915, 10413 ;– CL 1929, 10614 ;– CL 1948, 457.226