Michigan Compiled Laws
Act 230 of 1897 - Summer Resort and Park Associations (455.1 - 455.24)
Section 455.2 - Articles of Association; Signing, Acknowledgment, Contents.

Sec. 2.
Such articles of association shall be signed by the persons associating in the first instance, and be duly acknowledged before some officer of this state, authorized by the laws of this state to take acknowledgment of deeds, and shall set forth:
First, The name by which the corporation shall be known in the law;
Second, Definitely and distinctly the purposes for which the corporation is formed;
Third, The amount of the capital stock, which shall in no case be more than 100,000 dollars, and the number of shares thereof which shall be of the par value of 25 dollars;
Fourth, The names of the stockholders; their respective residences, and the number of shares held by each;
Fifth, The city, village or township where the office of the corporation shall be located;
Sixth, The term of existence of such corporation which shall not exceed 30 years;
Seventh, The number of directors of the corporation.
History: 1897, Act 230, Imd. Eff. June 4, 1897 ;-- CL 1897, 7619 ;-- CL 1915, 10035 ;-- CL 1929, 10305 ;-- CL 1948, 455.2

Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 455 - Summer Resort and Park Associations

Act 230 of 1897 - Summer Resort and Park Associations (455.1 - 455.24)

Section 455.1 - Summer Resort and Park Associations; Incorporation, Purpose.

Section 455.2 - Articles of Association; Signing, Acknowledgment, Contents.

Section 455.3 - Filing Articles With Department of Commerce; Subscribers and Stockholders as Body Politic and Corporate; Powers; Alteration or Amendment of Articles; Certification, Filing, and Recording.

Section 455.3.amended - Filing Articles With Department of Licensing and Regulatory Affairs; Subscribers and Stockholders as Body Politic and Corporate; Powers; Alteration or Amendment of Articles; Certification, Filing, and Recording.

Section 455.4 - Evidence of Incorporation.

Section 455.5 - Certificates of Stock; Signing, Sealing, Right to Vote.

Section 455.6 - Annual Meeting; Notice, Failure to Hold.

Section 455.7 - Annual Report; Stockholders, Contents; Perjury.

Section 455.8 - First Meeting; Notice.

Section 455.9 - Board of Directors; Qualifications, Election, Terms, Vacancy; Stock, Ceasing Ownership; Quorum.

Section 455.9.amended - Board of Directors; Qualifications, Election, Terms, Vacancy; Stock, Ceasing Ownership; Quorum.

Section 455.10 - Board of Directors; Powers.

Section 455.10.amended - Board of Directors; Powers.

Section 455.11 - Board of Directors; Officers and Employees, Selection, Removal, Terms.

Section 455.12 - By-Laws and Rules; Amendment.

Section 455.13 - Books; Inspection; Stock, Transfer.

Section 455.14 - Capital Stock; Deemed Personal Property, Transfer; Lien on Stock, Enforcement; Subscriptions; Shares, Issuance.

Section 455.15 - Capital Stock; Subscriptions, Payment; Suit; Sale, Procedure; Disposition of Proceeds; Purchaser, Rights.

Section 455.16 - Annual Dues; Levy, Use, Payment.

Section 455.16a - Allocation 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 455.17 - Stockholders' Liability; Subrogation; Contribution.

Section 455.18 - Annual Report.

Section 455.20 - Stockholders; Map or Plat of Land; Record; Use as Evidence; Street, Public Places.

Section 455.21 - Stockholders; Map or Plat of Land; Ownership, Sale; Dissolution, Disposition of Lots; Parks and Walks Dedicated to Public Use.

Section 455.22 - Repeal; Saving Clause; Provisions Governing Act.

Section 455.23 - Special Dues; Purpose, Time, Enforcement.

Section 455.23.amended - Special Dues; Purpose, Time, Enforcement.

Section 455.24 - Associate Members; Terms; Stock, Disposition.