Section 485.126 – Stockholder’s Liability; Recovery Prerequisites.
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 […]
Section 485.127 – Shares Deemed Personalty; Transfer.
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 […]
Section 485.129 – Governing Laws.
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 ;– […]
Section 485.201 – Corporations to Improve State Boundary Rivers; Incorporators.
485.201 Corporations to improve state boundary rivers; incorporators. Sec. 1. That any number of persons, not less than 5, may be formed into a corporation to improve any river and its tributaries which form, in whole or part, the boundary between this and any adjoining state, for the purpose of driving, sorting, holding and delivering […]
Section 485.202 – Corporations to Improve State Boundary Rivers; Certificate, Acknowledgement, Contents, Recording, Filing.
485.202 Corporations to improve state boundary rivers; certificate, acknowledgement, contents, recording, filing. Sec. 2. Such persons, under their hands and seals, shall make a certificate, which shall specify: First, The purpose for which the corporation is formed and the name of the rivers proposed to be improved; Second, A statement of the amount of capital […]
Section 485.203 – Corporations to Improve State Boundary Rivers; Body Corporate, Powers.
485.203 Corporations to improve state boundary rivers; body corporate, powers. 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 may have a common […]
Section 485.204 – Annual Report; Contents, Filing, Inspection by Stockholders.
485.204 Annual report; contents, filing, inspection by stockholders. Sec. 4. Every such corporation shall annually, in the month of January, make a report, signed by its president and secretary, containing: First, The amount of capital stock actually paid in; Second, The amount invested in real and personal estate; Third, The amount of their debts and […]
Section 485.205 – Stock Divided Into Shares; Increase.
485.205 Stock divided into shares; increase. Sec. 5. The amount of the capital stock of every such corporation shall be fixed and limited by the stockholders in their articles of association, and shall be divided into shares of 100 dollars each, 10 per cent of which shall be paid in. The capital stock and the […]
Section 485.206 – First Meeting; Calling.
485.206 First meeting; calling. Sec. 6. When any corporation shall be formed under this act, any 2 of those associated may call the first meeting of the corporation at such time and place as they may appoint, by giving notice thereof by publishing the same in some newspaper published in the county where the office […]
Section 485.207 – Directors; Powers, Election, Term, Officers, Selection, Term.
485.207 Directors; powers, election, term, officers, selection, term. Sec. 7. The business and property of said company shall be managed by a board of directors of not less than 3 nor more than 9 directors, who, after the first year, shall be elected annually as the by-laws of said company shall direct; and public notice […]