Section 125.2617 - Disclosure of interest in matter before corporation.
ENTERPRISE COMMUNITY DEVELOPMENT CORPORATION ACT (EXCERPT)
Act 123 of 1995
125.2617 Disclosure of interest in matter before corporation.
Act 123 of 1995
125.2617 Disclosure of interest in matter before corporation.
Sec. 17.
A director who has either a direct or indirect interest in a matter before the corporation shall disclose that interest before the corporation takes action on the matter. This disclosure shall be made a part of the record of the corporation's official proceedings and the interested director shall refrain from participation in the corporation relating to the matter.
History: 1995, Act 123, Imd. Eff. June 30, 1995