Sec. 8.
Application of other corporation laws to redevelopment corporations. The provisions of the general corporation law as presently in effect and as hereafter from time to time amended, shall apply to redevelopment corporations, except where such provisions are in conflict with the provisions of this act. In the event that any action with respect to which the holders of income debentures shall have the right to vote is proposed to be taken, then notice of any meeting at which such action is proposed to be taken shall be given to such holders in the same manner and to the same extent as if they were stockholders entitled to notice of and to vote at such meeting, and any certificate filed pursuant to law in the department of state with respect to any such action, whether taken with or without meeting, and any affidavit required by law to be annexed to such certificate shall contain the same statements or recitals, and such certificate shall be subscribed and acknowledged, and such affidavit shall be made, in the same manner as if such holders were stockholders holding shares of an additional class of stock entitled to vote on such action, or with respect to the proceedings provided for in such certificate.
History: 1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.908
Structure Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922)
Section 125.901 - Urban Redevelopment Corporations Law; Short Title; Applicability to Townships.
Section 125.902 - Legislative Findings; Policy of State; Purpose of Act.
Section 125.903 - Urban Redevelopment Corporations Law; Definitions.
Section 125.904 - Development Plans; Contents; Approval; Requirements; Amendments; Fees.
Section 125.905 - Supervising Agency; Appointment.
Section 125.906 - Redevelopment Corporation; Organization; Articles; Forfeiture of Rights; Name.
Section 125.907 - Limitations Imposed Upon Redevelopment Corporations; Limitations.
Section 125.908 - Corporation Code; Application to Redevelopment Corporations.
Section 125.909 - Consideration for Issuance of Stock, Bond or Debentures.
Section 125.910 - Determination of Development Cost; Procedure.
Section 125.911 - Regulation of Corporation by Supervising Agency.
Section 125.912a - Redevelopment Corporation; Powers and Authority.
Section 125.912b - Redevelopment Corporation; Funds, Grants, Agreements.
Section 125.913 - Return on Income Debentures and Stock; Limitations.
Section 125.914 - Proceedings Against Redevelopment Corporations; Parties.
Section 125.915 - Real Estate; Transfer to Redevelopment Corporations.
Section 125.916 - Acquisition of Real Estate; Methods; Condemnation.
Section 125.917 - Condemnation; Proceedings; Damages; Compensation.
Section 125.917a - Condemnation, Law Applicable.
Section 125.918 - Leasing of Property of Corporation; Termination of Tenancy.
Section 125.919 - Mortgages of Corporation; Provisions Governing.
Section 125.920 - Sale or Lease of Real Estate by a City to Corporation.