Section 455.310 – Lands Held in Trust; Free Access, Tax Exemption.
455.310 Lands held in trust; free access, tax exemption. Sec. 10. All lands acquired by any corporation organized under this act or subject to its control and management shall be held in trust as aforesaid for public parks, playgrounds, boulevards and pleasure drives for the recreation, health, welfare and benefit of the public and shall […]
Section 455.311 – Trustees; Court Appointment.
455.311 Trustees; court appointment. Sec. 11. If any corporation organized under this act shall at any time fail, from any cause, to perform the duties of trustee as herein provided, and by reason of such failure injury may result to any of the drives, parks, playgrounds, boulevards or other property held by such corporation as […]
Section 455.312 – Vesting of Property in Municipality.
455.312 Vesting of property in municipality. Sec. 12. If any such corporation fail at any time to have members and no trustees ad interim shall have been appointed, then until such time as the disability of such corporation as trustee shall have been removed, the title to the property thus held in trust shall vest […]
Section 455.313 – Construction of Act.
455.313 Construction of act. Sec. 13. In all proceedings of suits that may arise or be brought in any of the courts of this state touching or concerning corporations under this act, all other acts or parts of acts inconsistent herewith shall be interpreted and construed in such manner as to give full force and […]
Section 455.283 – Reorganized Corporations; Time Limit.
455.283 Reorganized corporations; time limit. Sec. 3. Any such corporation whose term has already expired may take advantage of this act at any time within 5 years of the date of such expiration, and any such corporation whose term shall hereafter expire may be so reorganized and renewed within 3 years of such expired term. […]
Section 455.301 – Parks, Playgrounds, Drives and Boulevards; Incorporation, Purpose.
455.301 Parks, playgrounds, drives and boulevards; incorporation, purpose. Sec. 1. Any number of persons, not less than 5, who shall desire to form a corporation for the purpose of acquiring, owning, controlling, maintaining and improving lands for the purposes of parks, playgrounds, drives and boulevards, or any 1 or more such purposes, and holding the […]
Section 455.302 – Articles of Association; Acknowledgment, Contents.
455.302 Articles of association; acknowledgment, contents. Sec. 2. Such articles of association shall be signed by the persons associating in the first instance, and be duly acknowledged before some officer authorized by the laws of this state to take acknowledgment of deeds, and shall set forth: (1) The name by which the corporation shall be […]
Section 455.303 – Filing Articles of Association With Department of Commerce.
455.303 Filing articles of association with department of commerce. Sec. 3. The articles of association shall be filed with the corporation and securities bureau of the department of commerce. History: 1911, Act 161, Eff. Aug. 1, 1911 ;– CL 1915, 10132 ;– CL 1929, 10390 ;– CL 1948, 455.303 ;– Am. 1982, Act 105, Imd. […]
Section 455.304 – Body Corporate; Powers.
455.304 Body corporate; powers. Sec. 4. Upon the recording of such articles of association the persons who have signed and acknowledged the same, their associates and successors, shall thereupon become a body politic and corporate and shall have power: (1) To sue and be sued; (2) To appoint and employ such officers, managers and agents […]
Section 455.305 – Corporation; Shares of Stock; Directors, Election, Terms, Powers.
455.305 Corporation; shares of stock; directors, election, terms, powers. Sec. 5. The corporation shall not have any shares of stock or be for pecuniary profit. It shall have not less than 5 directors to be chosen annually from and by the members at the time and place fixed by the by-laws, they to hold office […]