Section 486.253 – Electricity or Gas Sold to Public; Rates, Terms, and Conditions; Examination of Books and Records; Order of Commission; Review; Certificate of Necessity.
486.253 Electricity or gas sold to public; rates, terms, and conditions; examination of books and records; order of commission; review; certificate of necessity. Sec. 3. (1) A corporation formed under this act shall sell to the public the electric energy it generates or transmits and the gas it manufactures, produces, stores, or transmits, upon such […]
Section 486.254 – Existing Corporations; Right of Condemnation.
486.254 Existing corporations; right of condemnation. Sec. 4. Corporations heretofore lawfully organized, among other things, for any of the purposes specified in section 1 hereof; corporations heretofore lawfully organized, or that may hereafter be lawfully organized and duly authorized to carry on the electric or gas business as a public utility in the state of […]
Section 486.255 – Independent Transmission Company or Affiliated Company; Power to Condemn Property; Limitation; Procedures and Requirements; Definitions.
486.255 Independent transmission company or affiliated company; power to condemn property; limitation; procedures and requirements; definitions. Sec. 5. (1) Subject to the electric transmission line certification act, 1995 PA 30, MCL 460.561 to 460.575, and the uniform condemnation procedures act, 1980 PA 87, MCL 213.51 to 213.75, an independent transmission company or an affiliated transmission […]
Section 486.301 – Waterworks in Municipalities; Incorporators; Powers.
486.301 Waterworks in municipalities; incorporators; powers. Sec. 1. That whenever the common council of any city or incorporated village, or the municipal authority of any town in this state shall, by resolution, declare that it is expedient to have constructed works for the purpose of supplying such city, village or town, and the inhabitants thereof […]
Section 486.302 – Certificate; Contents, Filing and Recording; Body Corporate, Name.
486.302 Certificate; contents, filing and recording; body corporate, name. Sec. 2. Any number of persons not less than 5, who shall associate according to the provisions of this act, under any name assumed by them, to form a company for the purpose of supplying any city, town or village, or the inhabitants thereof, with water […]
Section 486.303 – Corporate Power to Hold Property.
486.303 Corporate power to hold property. Sec. 3. Every such corporation shall, by their name, have power to acquire and hold all such real and personal estate as shall be necessary for carrying on the business of said corporation. History: 1869, Act 113, Imd. Eff. Apr. 3, 1869 ;– CL 1871, 3357 ;– How. 3112 […]
Section 486.304 – Capital Stock; Fixed Amount, Increase.
486.304 Capital stock; fixed amount, increase. Sec. 4. The amount of capital stock in every such corporation shall be fixed by the stockholders in their articles of association, but shall in no case be less than 10,000 dollars; said stock may be increased from time to time as may be directed by the stockholders; and […]
Section 486.305 – Officers; Election, Term, Powers; Quorum of Stockholders; Right to Vote.
486.305 Officers; election, term, powers; quorum of stockholders; right to vote. Sec. 5. The officers shall be elected by the stockholders when 50 per cent of the stock shall be subscribed, and 10 per cent of the amount subscribed paid in, and after a notice of at least 2 weeks has been given in some […]
Section 486.213 – Board of Directors; Annual Report, Contents.
486.213 Board of directors; annual report, contents. Sec. 13. On or before the first Monday in July 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 at least 2 of the directors, […]
Section 486.214 – Realty; Purchase, Holding, Disposal; Personal Property, Disposal.
486.214 Realty; purchase, holding, disposal; personal property, disposal. Sec. 14. Each and every corporation formed under this act shall have authority to purchase and hold land in amount not to exceed 3,000 acres adjacent to or within convenient distance of any canal, stream or dam, constructed under the provisions of this act, for the purpose […]