After the governing body approves the incorporation of the Economic Development Corporation by ordinance, and the ordinance is in effect and is filed with the Corporation Division of the Department of Treasury, the applicants shall incorporate the Economic Development Corporation as a nonprofit corporation pursuant to Act 327 of the Public Acts of 1931, as amended, being M.C.L.A. 450.62 to 450.192, as amended. The name of the corporation shall be the Economic Development Corporation of the Township of Clinton. If incorporation is not accomplished within ninety days after the effective date of this ordinance, this ordinance is void.
(Ord. 254. Passed 3-27-78.)