Sec. 20.
Every act of incorporation passed since the twentieth day of April, in the year 1839, or which shall be hereafter passed, shall at any time be subject to amendment, alteration or repeal, at the pleasure of the legislature: Provided, That no act of incorporation shall be repealed, unless for some violation of its charter or other default, when such charter shall contain an express provision limiting the duration of the same.
History: R.S. 1846, Ch. 55 ;-- CL 1857, 2162 ;-- CL 1871, 3447 ;-- How. 4879 ;-- CL 1897, 8546 ;-- CL 1915, 11337 ;-- CL 1929, 10162 ;-- CL 1948, 450.520 Former Law: For law prior to 1846, see Section 11 of Act 115 of 1839.
Structure Michigan Compiled Laws
R.S. of 1846 - Revised Statutes of 1846 (450.504 - 450.525)
R-S-1846-450-504-55-CORPORATIONS - Corporations (450.504...450.525)
Section 450.507 - Holding of Land; Subscriptions; Donations; Stock Transfer; Articles, Amendment.
Section 450.519 - Contributions; Recovery in Chancery.
Section 450.520 - Acts of Incorporation; Amendment, Alteration or Repeal.
Section 450.521 - Assessing Officers; Returns, Contents.
Section 450.522 - Assessing Officers; Returns, Default; Penalty.
Section 450.523 - Fraudulent Transfer of Shares to Avoid Taxation; Penalty.
Section 450.524 - Returns to State Treasurer; Default, Computation, State Tax.
Section 450.525 - Attorney General and Legislature; Examination.