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Michigan Compiled Laws Complete Through PA 178 of 2019

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Act 230 of 1897
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Act 230 of 1897

AN ACT to provide for the formation of corporations for the purpose of owning, maintaining and improving lands and other property kept for the purposes of summer resorts or for ornament, recreation or amusement, and to repeal all laws or parts of laws in conflict herewith; and to impose certain duties on the department of commerce.

History: 1897, Act 230, Imd. Eff. June 4, 1897 ;-- Am. 1982, Act 117, Imd. Eff. Apr. 19, 1982

© 2020 Legislative Council, State of Michigan

The People of the State of Michigan enact:

Section 455.1SectionSummer resort and park associations; incorporation, purpose.
Section 455.2SectionArticles of association; signing, acknowledgment, contents.
Section 455.3SectionFiling articles with department of commerce; subscribers and stockholders as body politic and corporate; powers; alteration or amendment of articles; certification, filing, and recording.
Section 455.4SectionEvidence of incorporation.
Section 455.5SectionCertificates of stock; signing, sealing, right to vote.
Section 455.6SectionAnnual meeting; notice, failure to hold.
Section 455.7SectionAnnual report; stockholders, contents; perjury.
Section 455.8SectionFirst meeting; notice.
Section 455.9SectionBoard of directors; qualifications, election, terms, vacancy; stock, ceasing ownership; quorum.
Section 455.10SectionBoard of directors; powers.
Section 455.11SectionBoard of directors; officers and employees, selection, removal, terms.
Section 455.12SectionBy-laws and rules; amendment.
Section 455.13SectionBooks; inspection; stock, transfer.
Section 455.14SectionCapital stock; deemed personal property, transfer; lien on stock, enforcement; subscriptions; shares, issuance.
Section 455.15SectionCapital stock; subscriptions, payment; suit; sale, procedure; disposition of proceeds; purchaser, rights.
Section 455.16SectionAnnual dues; levy, use, payment.
Section 455.16aSectionAllocation of taxable and assessed values to stockholder lessees; percentage; burden of proof; property transfer affidavit; assessment roll change or tax roll change; "inflation rate" defined.
Section 455.17SectionStockholders' liability; subrogation; contribution.
Section 455.18SectionAnnual report.
Section 455.20SectionStockholders; map or plat of land; record; use as evidence; street, public places.
Section 455.21SectionStockholders; map or plat of land; ownership, sale; dissolution, disposition of lots; parks and walks dedicated to public use.
Section 455.22SectionRepeal; saving clause; provisions governing act.
Section 455.23SectionSpecial dues; purpose, time, enforcement.
Section 455.24SectionAssociate members; terms; stock, disposition.
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