Corporation director, manager, trustee or officer; resident agent, attorney; appointment, duration.

Every person, whether a resident or nonresident of this state, by the acceptance of election, appointment or employment as a director, manager, trustee or other officer of any corporation organized under the laws of the state of Michigan, or by continuance as such director, manager, trustee or other officer for a period of 30 days following approval of this act, shall be held, by such acceptance or continuance, to have appointed the resident agent of such corporation as his true and lawful attorney in fact upon whom service of process may be made while such person is a director, manager, trustee or other officer and after he has ceased to be such a director, manager, trustee or other officer, as long as such cause of action is not barred by the statute of limitations, in any action commenced in any court of general jurisdiction in the state of Michigan, arising out of or founded upon any action of such a domestic corporation or of such a person as a director, manager, trustee or other officer of such a domestic corporation.