Mich. Comp. Laws § 455.251
Continuance of corporate existence; term; resolution; filing copy of resolution with department of commerce; copy of resolution or record as evidence of passage and extension of corporate life; franchise fee.
It shall be lawful for any summer resort association, whose term is about to expire by limitation, at any time within 8 years next preceding the expiration of such term, by a vote of 2/3 of its capital stock, at any annual meeting, to direct the continuance of its corporate existence for such further term not exceeding…