Current through Public Act 171 of the 2024 Legislative Session
Section 450.2110 - Definitions; V(1) "Volunteer" means an individual who performs services for a corporation, other than services as a volunteer director, who does not receive compensation or any other type of consideration for the services other than reimbursement for expenses actually incurred.(2) "Volunteer director" means a director who does not receive anything of more than nominal value from the corporation for serving as a director other than reasonable per diem compensation and reimbursement for actual, reasonable, and necessary expenses incurred by a director in his or her capacity as a director.Amended by 2014, Act 557,s 8, eff. 1/15/2015.1982, Act 162, eff. 1/1/1983 ;--Am. 1987, Act 170, eff. 1/1/1988 ;--Am. 1990, Act 39, imd. eff. 3/29/1990.