Sec. 3.
The subscribers to such articles of association, shall at the time of subscription thereto, severally pay to the treasurer named therein at least 20 per cent of the amount subscribed by each, and when the whole amount of capital mentioned in said articles shall be subscribed and said portion thereof actually paid in, the directors shall cause a copy of their articles of association, together with an affidavit of such treasurer that 20 per cent of the amount of capital subscribed has actually been paid in, to be filed in the corporation and securities bureau of the department of commerce.
History: 1869, Act 12, Imd. Eff. Feb. 19, 1869 ;-- CL 1871, 3410 ;-- Am. 1875, Act 219, Imd. Eff. May 3, 1875 ;-- How. 4765 ;-- CL 1897, 8401 ;-- CL 1915, 11162 ;-- CL 1929, 10442 ;-- CL 1948, 456.103 ;-- Am. 1953, Act 167, Eff. Oct. 2, 1953 ;-- Am. 1982, Act 110, Imd. Eff. Apr. 19, 1982
Structure Michigan Compiled Laws
Chapter 456 - Cemetery Associations
Act 12 of 1869 - Rural Cemetery Corporations (456.101 - 456.119)
Section 456.101 - Cemetery Corporations; Incorporators, Name.
Section 456.102 - Articles; Signing, Acknowledgment, Contents.
Section 456.103 - Payment by Subscribers to Articles of Association.
Section 456.104 - Annual Meeting; Election of Board of Directors; Right to Vote; Special Meetings.
Section 456.105 - Board of Directors; Selection of Officers.
Section 456.106 - Board of Directors; Powers.
Section 456.106a - Conveyance of Land.
Section 456.107, 456.107a - Repealed. 2008, Act 478, Imd. Eff. Jan. 12, 2009.
Section 456.108 - Tax Exemption.
Section 456.111 - Saloons and Amusements Prohibited.
Section 456.112 - Burial Rights; Transfer, Rights of Surviving Spouse and Next of Kin.
Section 456.113 - Repealed. 1977, Act 67, Imd. Eff. July 20, 1977.
Section 456.114 - Use of Firearms in Cemetery; Entering Over Fence; Penalty.
Section 456.114a - Witness Fee; Prohibition.
Section 456.115 - Perpetual Care Fund; Receipts; Investment; Bond; Account.
Section 456.116 - Non-Profit Corporation.
Section 456.117 - Charter Not Deemed Forfeited; Filing Articles; Affidavit, Report.