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Are annual shareholder meetings and board of directors' meetings required to be in-person?

Are annual shareholder meetings and board of directors' meetings required to be in-person?

No. The Michigan Banking Code of 1999 (Code) does not require bank shareholders to meet in person and permits shareholders to vote by proxy. The Code specifically permits boards of directors to meet “by means of electronic communication devices that enable all participants in a meeting to communicate with each other.”