Michigan Laws 388.1769b – Contract in which board member has conflict of interest; abstention from voting
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Terms Used In Michigan Laws 388.1769b
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
A board member of a district, intermediate district, public school academy, or public school academy corporation shall abstain from voting on any contract in which the board member has a conflict of interest.