Filling More Than One Office Sample Clauses
The "Filling More Than One Office" clause defines whether and how an individual may hold multiple positions within an organization simultaneously. Typically, this clause outlines any restrictions or permissions regarding dual roles, such as whether a director can also serve as an officer, or if one person can occupy both the president and secretary positions. Its core practical function is to clarify governance structure and prevent conflicts of interest or concentration of power, ensuring transparent and effective management.
Filling More Than One Office. Subject to the statute concerning the Incompatible Public Offices, Act No. 566 of the Public Acts of 1978, being Sections 15.181 to 15.185 of the Michigan Compiled Laws, any two offices of the Corporation except those of President and Vice-President may be held by the same person, but no officer shall execute, acknowledge or verify any instrument in more than one capacity.
