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Michigan Compiled Laws Complete Through PA 19 of 2024
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Senate: Adjourned until Tuesday, March 19, 2024 10:00:00 AM


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Act 113 of 1869
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WATERWORKS

Act 113 of 1869

AN ACT to authorize the formation of companies for the introduction of water into towns, cities and villages, in the state of Michigan.


History: 1869, Act 113, Imd. Eff. Apr. 3, 1869




The People of the State of Michigan enact:

DocumentTypeDescription
Section 486.301SectionWaterworks in municipalities; incorporators; powers.
Section 486.302SectionCertificate; contents, filing and recording; body corporate, name.
Section 486.303SectionCorporate power to hold property.
Section 486.304SectionCapital stock; fixed amount, increase.
Section 486.305SectionOfficers; election, term, powers; quorum of stockholders; right to vote.
Section 486.306SectionCorporate powers.
Section 486.307SectionAcquisition and use of lands for purposes of act; survey and map, signing, filing; right of entry.
Section 486.308SectionCondemnation proceedings.
Section 486.309SectionStock deemed personal property; certificates of stock, transfer; report to assessing officer.
Section 486.310SectionCapital stock; subscriptions, calling in; sale, procedure, proceeds; rights of purchaser.
Section 486.311SectionStockholder's liability; recovery prerequisites; contribution to creditor.
Section 486.312SectionContract between municipality and company; obligations.
Section 486.313SectionStockholders; annual and special meetings.
Section 486.314SectionOfficers of company; designation, election, bonding.
Section 486.315SectionOrdinances of common council; granting use of public property; rates of compensation.
Section 486.316SectionPurchase of corporate rights and property by municipality; arbitration.
Section 486.317SectionMunicipality as stockholder; issuance of bonds, interest rate limit, tax levy; certain corporations as stockholders.
Section 486.318SectionCompany fully organized; qualification, powers, financial arrangements.
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