Section 455.17 – Stockholders’ Liability; Subrogation; Contribution.
455.17 Stockholders’ liability; subrogation; contribution. Sec. 17. The stockholders of all corporations formed under this act shall be jointly, severally and individually liable for all labor and services performed for such corporation, which said liability, founded on this statue [statute], may be enforced by a suit at law in an action of assumpsit, at any […]
Section 455.18 – Annual Report.
455.18 Annual report. Sec. 18. All corporations formed under the provisions of this act shall annually, between the months of March and the end of the succeeding August, make a report which shall state the amount of the capital stock actually paid in and the amount of money borrowed if any, which report shall be […]
Section 455.20 – Stockholders; Map or Plat of Land; Record; Use as Evidence; Street, Public Places.
455.20 Stockholders; map or plat of land; record; use as evidence; street, public places. Sec. 20. If the by-laws of any such corporation shall provide that the stockholders shall be entitled to select a lot on the lands of said corporation for the purpose of building thereon, it shall be the duty of the directors […]
Section 455.11 – Board of Directors; Officers and Employees, Selection, Removal, Terms.
455.11 Board of directors; officers and employees, selection, removal, terms. Sec. 11. The directors shall choose from their number, by ballot or otherwise, a president, secretary, and treasurer, and the latter 2 offices may be held by the same person, and shall have power to appoint and employ such other subordinate officers, agents, servants or […]
Section 455.12 – By-Laws and Rules; Amendment.
455.12 By-laws and rules; amendment. Sec. 12. The stockholders shall have the power to make such reasonable by-laws not inconsistent with the laws of this state, or of the United States, as they shall deem proper for the management, control and disposition of the property, affairs and concerns of said corporation and may by such […]
Section 455.3.amended – Filing Articles With Department of Licensing and Regulatory Affairs; Subscribers and Stockholders as Body Politic and Corporate; Powers; Alteration or Amendment of Articles; Certification, Filing, and Recording.
***** 455.3.amended THIS AMENDED SECTION IS EFFECTIVE 91 DAYS AFTER ADJOURNMENT OF THE 2022 REGULAR SESSION SINE DIE ***** 455.3.amended Filing articles with department of licensing and regulatory affairs; subscribers and stockholders as body politic and corporate; powers; alteration or amendment of articles; certification, filing, and recording. Sec. 3. (1) The articles of association must […]
Section 455.4 – Evidence of Incorporation.
455.4 Evidence of incorporation. Sec. 4. A copy of any articles of association filed in the corporation and securities bureau of the department of commerce in pursuance of this act and certified by the corporation and securities bureau of the department of commerce, to be a true copy thereof, and the whole of such articles […]
Section 455.5 – Certificates of Stock; Signing, Sealing, Right to Vote.
455.5 Certificates of stock; signing, sealing, right to vote. Sec. 5. All certificates for capital stock shall be signed by the president and secretary of the company, and sealed with the corporate seal. Each stockholder shall be entitled to cast 1 vote for each and every share he shall own of the capital stock of […]
Section 455.6 – Annual Meeting; Notice, Failure to Hold.
455.6 Annual meeting; notice, failure to hold. Sec. 6. Every such corporation shall hold its annual meeting of stockholders between the first Monday of February and the last day of August of each year as its by-laws may provide. Notice of the time and place of such meeting shall be given by the secretary by […]
Section 455.7 – Annual Report; Stockholders, Contents; Perjury.
455.7 Annual report; stockholders, contents; perjury. Sec. 7. At each annual meeting such corporation shall make a report to the stockholders, signed by a majority of the board of directors, verified by the oath of the president and secretary of said corporation, containing: First, The amount of capital actually paid in; Second, The amount invested […]