485.101 Corporations to improve on rivers; formation; tolls. Sec. 1. That any number of persons may associate for the purpose of improving the navigation of any river in this state, by deepening the channel thereof and the construction of dams therein, and canals to connect therewith, upon such terms and conditions and subject to such […]
485.102 Corporations to improve on rivers; certificate, contents, acknowledgment, recording, filing. Sec. 2. Such persons, under their hands and seals, shall make a certificate which shall specify: 1. The name of the corporation; 2. The stream and section of the stream the navigation of which it is proposed to improve; 3. A statement of the […]
485.103 Body corporate; powers; governing law. Sec. 3. Upon complying with the provisions of the last preceding section, such company shall be a body corporate, by the name designated in said certificate, and as such shall be capable of suing and being sued in all courts and in all manner of actions, and may have […]
485.104 Improvement of streams; consent of governor and attorney general. Sec. 4. No company formed or created under this act shall be authorized to improve the navigation of any stream under the provisions of this act, until they shall have obtained the assent in writing of the governor and attorney general of this state. History: […]
485.105 Map or plan; application for approval; hearing, procedure, approval; alteration of plan. Sec. 5. After the organization of any such company as aforesaid, they may prepare a map or plan of the section or sections of the stream or streams, the navigation of which they propose to improve, and a plan for the improvement […]
485.106 Directors; powers, election, term, vacancy, qualification. Sec. 6. The business and property of such company shall be managed and directed by a board of not less than 3 nor more than 7 directors, who, after the first year, shall be elected annually, or once in 2 years, as the by-laws of said company shall […]
485.107 Directors; calling of election. Sec. 7. In case it shall happen that an election for directors shall not be held as provided, the said corporation shall not be for that reason dissolved, but such election shall be held on some future day, to be fixed by the directors holding over, upon giving the notice […]
485.108 Directors; majority control. Sec. 8. A majority of the directors shall be a board for the transaction of business, and the acts of a majority of the board shall bind the corporation. History: 1869, Act 149, Imd. Eff. Apr. 5, 1869 ;– CL 1871, 2723 ;– How. 3852 ;– CL 1897, 6728 ;– CL […]
485.109 Directors; president; treasurer; selection, vacancy. Sec. 9. The directors at their first meeting after their election, shall choose, by ballot, 1 of their number as president, and 1 as treasurer, and they shall supply any vacancy in the office of president or treasurer, whenever the same shall occur. History: 1869, Act 149, Imd. Eff. […]
485.110 President and directors; powers. Sec. 10. The president and directors shall have power to make and prescribe such by-laws, rules and regulations respecting the transfer of stocks, and the management and control of the affairs and property of such corporation, as they may deem best, not inconsistent with the laws of the United States […]
485.111 Subscriptions; increase in capital stock, certificate, filing. Sec. 11. The directors of any such company may at any time receive subscriptions to stock in said company until the whole amount of the stock mentioned in their articles of association shall be subscribed; and whenever, in the judgment of the directors, it shall be necessary […]
485.112 Subscriptions; calling in; sale, procedure, purchaser’s rights. Sec. 12. The directors may call in subscriptions to the capital stock of such corporation by installments, in such portions, and at such times and places as they shall think proper, by giving notice thereof as the by-laws shall prescribe; and in case any stockholder shall neglect […]
485.113 Corporate powers. Sec. 13. Every such corporation organized, as hereinbefore prescribed, may make the improvements thus set forth in said plans after the same shall have been approved by said board of control, and shall have the following powers and be subject to the liabilities and restrictions following, that is to say: First, To […]
485.114 Tolls; forfeiture of right to collect. Sec. 14. It shall be the duty of such company to complete the improvements contemplated by the plans approved as aforesaid within the time which shall be prescribed by the said board of control, at the time said plans shall be approved by said board of control, and […]
485.115 Tolls; power of board to fix; jurisdiction of corporation; annual statement, contents. Sec. 15. Whenever any portion of said work shall be completed to the satisfaction of said board of control, and it is so far useful that in the opinion of said board of control tolls should be paid for the use thereof, […]
485.116 Tolls; improved streams open to all. Sec. 16. Any stream improved under this act shall be open to all persons for use, upon the payment of tolls, prescribed as aforesaid for the passage of vessels, boats, logs, rafts, timber and lumber through such improved stream or waters, and uniform rates of toll shall be […]
485.117 Tolls; collection. Sec. 17. Whenever said tolls are prescribed as aforesaid, the directors of the corporation may collect the same by action of assumpsit from persons using such improved portions of such stream. The proceedings in such action shall be in accordance with the practice of the courts in which such action is commenced […]
485.118 Lien on floatables; sale, procedure. Sec. 18. Such company shall have a lien upon all logs, rafts, timber or lumber or other floatables driven, rafted or run through such stream or waters upon which toll shall be due, for such toll, and may sell a sufficient quantity of such logs, timber or lumber, or […]
485.119 Stream to be kept in repair; forfeiture. Sec. 19. The board of directors of any such company shall, at all times after commencing the collection of any tolls from persons using said improved stream or waters, keep such portions of the stream or waters clear of all unnecessary obstructions, and in good condition for […]
485.120 Injury to stream or property; penalty. Sec. 20. If any person shall wilfully obstruct any stream or waters improved under the provisions of this act, or any part thereof, or shall wilfully destroy or injure any buildings, piers, dams, fixtures, banks or other constructions in use upon the same belonging to said company, such […]
