MI SB1232

Board of trustees of Albion College shall consist of not more than 33 trustees, including the college president, up to 6 trustees appointed by the United Methodist Church, up to 2 recent graduates appointed by the college president, up to 6 trustees appointed by the alumni association, and up to 20 trustees appointed by remaining trustees in office.

Volunteer trustees and nontrustee volunteers serving as officers have no personal liability for breaches of fiduciary duty, except for breaches of loyalty, acts not in good faith, intentional misconduct, knowing violations of law, improper distributions of assets, deriving improper personal benefit, or gross negligence.

College assumes all liability for acts or omissions of volunteer trustees and nontrustee volunteers occurring after the bill's effective date if the volunteer was acting within their authority, in good faith, without gross negligence or willful misconduct, and not committing intentional torts or motor vehicle-related torts.

Any claim for monetary damages against a volunteer trustee or nontrustee volunteer shall be brought and maintained against the college instead.

Sections 4 and 8 of 1857 PA 72 are repealed.