Section 455.52 – Articles of Association; Capital Stock; Reorganization.
455.52 Articles of association; capital stock; reorganization. Sec. 2. The persons so associating shall sign articles of association which shall state: First, The corporate name of the association; Second, The names and residences of the persons thus associating; Third, The purpose or purposes of such association; Fourth, The number of trustees to manage the business […]
Section 455.53 – Execution of Articles of Association; Acknowledgment; Filing Articles With Department of Commerce; Certification.
455.53 Execution of articles of association; acknowledgment; filing articles with department of commerce; certification. Sec. 3. The execution of such articles of association shall be acknowledged by the persons signing the same before some officer authorized to take the acknowledgment of deeds. Such articles shall thereupon be filed with the corporation and securities bureau of […]
Section 455.54 – Powers, Privileges, and Liabilities of Incorporated Association; Limitation on Land Holdings; Voting.
455.54 Powers, privileges, and liabilities of incorporated association; limitation on land holdings; voting. Sec. 4. (1) An association incorporated under this act has all the general powers and privileges and is subject to all the liabilities of a corporation. The association may have a common seal; may sue and be sued in all the courts […]
Section 455.55 – Corporation; Powers.
455.55 Corporation; powers. Sec. 5. Such corporation may improve and ornament its nds, erect and maintain churches, houses of worship, and other buildings thereon for its own use, or for the use and occupation of assemblies, societies and people who may desire the same, and may hold meetings, employ speakers and lecturers for the promotion […]
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 455.13 – Books; Inspection; Stock, Transfer.
455.13 Books; inspection; stock, transfer. Sec. 13. It shall be the duty of the directors of any such corporation to cause proper books to be kept by the secretary and treasurer, containing the names of all persons who are stockholders, together with their places of residence, and wherein shall be entered all matters and things […]
Section 455.14 – Capital Stock; Deemed Personal Property, Transfer; Lien on Stock, Enforcement; Subscriptions; Shares, Issuance.
455.14 Capital stock; deemed personal property, transfer; lien on stock, enforcement; subscriptions; shares, issuance. Sec. 14. The stock of every such corporation shall be deemed personal property, and may be transferred as shall be prescribed by this act and by the by-laws of the corporation, and such corporation shall at all times have a lien […]
Section 455.15 – Capital Stock; Subscriptions, Payment; Suit; Sale, Procedure; Disposition of Proceeds; Purchaser, Rights.
455.15 Capital stock; subscriptions, payment; suit; sale, procedure; disposition of proceeds; purchaser, rights. Sec. 15. The directors may require the subscribers to the capital stock of the corporation to pay the amount by them respectively subscribed, in such manner and in such installments as they may deem proper. If any stockholder shall neglect or refuse […]