485.121 Log jam; power to break, lien for cost. Sec. 21. If any person or persons shall put, or cause to be put, into said stream or waters, any logs, timber, or lumber, and shall not make adequate provisions and put on sufficient force for breaking jams of such logs, timber or lumber in or […]
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 […]
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 […]
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 […]
485.125 Taxation. Sec. 25. Each and every company formed under this act, shall pay to the treasurer of the state of Michigan an annual tax at the rate of 1 per cent on the whole amount of capital paid in upon the capital stock of said company, which tax shall be estimated upon the last […]
485.126 Stockholder’s liability; recovery prerequisites. Sec. 26. The stockholders of every company organized in pursuance of this act, shall be jointly and severally personally liable for the payment of all debts and demands against such association, which shall be contracted, or which shall be, or shall become due during the time of their holding such […]
485.127 Shares deemed personalty; transfer. Sec. 27. The shares of any company formed under this act shall be deemed personal property, and may be transferred as shall be prescribed by the by-laws of such company. History: 1869, Act 149, Imd. Eff. Apr. 5, 1869 ;– CL 1871, 2742 ;– How. 3871 ;– CL 1897, 6747 […]
485.129 Governing laws. Sec. 29. All companies formed under this act shall at all times be subject to all general laws in force relative to corporations. History: 1869, Act 149, Imd. Eff. Apr. 5, 1869 ;– CL 1871, 2744 ;– How. 3873 ;– CL 1897, 6749 ;– CL 1915, 8849 ;– CL 1929, 11784 ;– […]
