Sec. 4.
Such association shall have power to purchase, receive and hold and convey such real estate, and such only, as may be necessary for the convenient transaction of the business, and for effectually carrying on the operations of such association, and may appoint such directors, officers and agents, and make such prudential rules, regulations and by-laws as may be necessary in the transaction of their business, not inconsistent with the laws of this state or of the United States. But this section shall not be so construed as to authorize any such association to hold any real estate except such as shall be actually occupied by such association in the exercise of its franchises.
History: 1851, Act 59, Imd. Eff. Mar. 20, 1851 ;-- CL 1857, 2052 ;-- CL 1871, 2628 ;-- How. 3696 ;-- CL 1897, 6670 ;-- CL 1915, 8770 ;-- CL 1929, 11666 ;-- CL 1948, 484.154
Structure Michigan Compiled Laws
Chapter 484 - Telephone, Telegraph, and Radio
Act 59 of 1851 - Telegraph Companies (484.151 - 484.172)
Section 484.151 - Telegraph Companies; Incorporators.
Section 484.152 - Telegraph Companies; Certificate of Organization, Contents, Filing.
Section 484.153 - Body Corporate; Certified Copy of Certificate as Evidence.
Section 484.154 - Power to Hold Realty; Officers and Agents; Rules and By-Laws.
Section 484.155 - Telegraph Lines; Construction, Restrictions.
Section 484.156 - Aggrieved Property Owner; Remedy, Procedure.
Section 484.157 - Injury to Line; Penalty.
Section 484.158 - Stockholder's Liability for Corporate Debts; Contribution.
Section 484.159 - Annual Report; Contents; Failure to Make, Liability of Directors.
Section 484.160 - Annual Tax; in Lieu of Other State Taxes.
Section 484.161 - Shares of Stock; Status as Personalty, Transfer, Purchase in Other Corporations.
Section 484.163 - Books; Inspection, Use as Evidence; Penalty, Forfeiture.
Section 484.164 - Transmission of Dispatches; Penalty.
Section 484.165 - Transmission of Dispatches; Order of Transmission; Penalty.
Section 484.166 - Divulging Contents; Willful Failure to Transmit; Penalty, Civil Liability.
Section 484.167 - State's Lien for Taxes; Sale; Surplus.
Section 484.168 - Amendment or Repeal of Act.
Section 484.169 - Immediate Effect.
Section 484.170 - Appraisal of Damages; Lands in More Than 1 County.
Section 484.171 - Appraisal of Damages; Contiguous Lands of Same Person.
Section 484.172 - Amendment to Articles; Filing, Recording, Use of Certified Copy as Evidence.