17 views 44 sec 0 Comment

Six Major Revisions to the Michigan Nonprofit Corporation Act: Should Your Condominium Association Revise Its Articles of Incorporation and Bylaws?

/ Owner - February 18, 2015

In Michigan, two primary statutes govern the affairs of a condominium association: the Condominium Act and the Nonprofit Corporation Act. The last major revisions to the Nonprofit Corporation Act took place in 2008 through Public Act 9 of 2008, which permitted voting by electronic means, amongst other things. Effective January 15, 2015, Governor Rick Snyder signed into law Michigan Senate Bill 623 [now Public Act 557 of 2014] which made significant changes to the Nonprofit Corporation Act. This article addresses six major changes to the Nonprofit Corporation Act that could impact your condominium association.      Read more……….

Comments are closed.