Section 485.122 – Lien; Enforcement.
485.122 Lien; enforcement. Sec. 22. Any such corporation claiming any lien may bring an action of assumpsit against the owner of such property to determine and satisfy the amount of such lien or such corporation may waive its claim of lien and bring such action against such owner for the amount thereof. The proceedings in […]
Section 485.123 – Lien on Floatables; Owner Unknown or Without Jurisdiction of Court.
485.123 Lien on floatables; owner unknown or without jurisdiction of court. Sec. 23. If the owner of such logs, timber or other floatables, cannot be ascertained, or is without the jurisdiction of the court, the proceeding to ascertain and determine the amount of such lien may be against the property, and commenced by filing the […]
Section 485.124 – Annual Report; Contents.
485.124 Annual report; contents. Sec. 24. On or before the first Monday in January in each year it shall be the duty of the directors of every company formed under this act, to report to the secretary of state, under the oath of the secretary and 1 or more of the directors, the length of […]
Section 485.109 – Directors; President; Treasurer; Selection, Vacancy.
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. […]
Section 485.110 – President and Directors; Powers.
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 […]
Section 485.111 – Subscriptions; Increase in Capital Stock, Certificate, Filing.
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 […]
Section 485.112 – Subscriptions; Calling In; Sale, Procedure, Purchaser’s Rights.
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 […]
Section 485.113 – Corporate Powers.
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 […]
Section 485.114 – Tolls; Forfeiture of Right to Collect.
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 […]
Section 485.115 – Tolls; Power of Board to Fix; Jurisdiction of Corporation; Annual Statement, Contents.
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, […]