The Difference Between an Officer and a Director: Selection, Removal and Eligibility Restrictions
In most Michigan condominium associations, the same individuals serve as both directors and officers of the nonprofit corporation in charge of the condominium. Often times, there is confusion or misunderstanding about the difference between a “director” and an “officer.” Thus, co-owners routinely ask our office to explain the difference and why the Condominium Bylaws differentiate between directors and officers. The answer to this question resides in the Michigan Nonprofit Corporation Act, MCL 450.2101, et seq. (the “Act”). Directors and officers are distinct roles and serve different legal purposes. Importantly, directors and officers are not synonymous terms. Read the article…………..
This bill would amend the Michigan Condominium Act to add a requirement that a condominium association must obtain majority co-owner
Article from the UCOM Reporter (MI) Read more……..