Sec. 3.
Upon complying with the provisions of the last preceding section, such company shall be a body corporate, by the name designated in said certificate, and as such shall be capable of suing and being sued in all courts and in all manner of actions, and may have a common seal, and may by by-laws prescribe the manner of calling and conducting the meetings of the stockholders, and shall possess the powers and privileges, and be subject to the provisions contained in chapter 55, of title 10, of the Revised Statutes of A.D. 1846, entitled “General provisions relating to corporations,” as far as the same shall be applicable, and not inconsistent with the provisions of this act.
History: 1869, Act 149, Imd. Eff. Apr. 5, 1869 ;-- CL 1871, 2718 ;-- How. 3847 ;-- CL 1897, 6723 ;-- CL 1915, 8824 ;-- CL 1929, 11759 ;-- CL 1948, 485.103 Compiler's Notes: For provisions of chapter 55 of the Revised Statutes of 1846, referred to in this section, see MCL 450.504 et seq.
Structure Michigan Compiled Laws
Chapter 485 - Canal, Harbor, and River Improvement Companies
Act 149 of 1869 - River Improvement Companies (485.101 - 485.129)
Section 485.101 - Corporations to Improve on Rivers; Formation; Tolls.
Section 485.103 - Body Corporate; Powers; Governing Law.
Section 485.104 - Improvement of Streams; Consent of Governor and Attorney General.
Section 485.106 - Directors; Powers, Election, Term, Vacancy, Qualification.
Section 485.107 - Directors; Calling of Election.
Section 485.108 - Directors; Majority Control.
Section 485.109 - Directors; President; Treasurer; Selection, Vacancy.
Section 485.110 - President and Directors; Powers.
Section 485.111 - Subscriptions; Increase in Capital Stock, Certificate, Filing.
Section 485.112 - Subscriptions; Calling In; Sale, Procedure, Purchaser's Rights.
Section 485.113 - Corporate Powers.
Section 485.114 - Tolls; Forfeiture of Right to Collect.
Section 485.116 - Tolls; Improved Streams Open to All.
Section 485.117 - Tolls; Collection.
Section 485.118 - Lien on Floatables; Sale, Procedure.
Section 485.119 - Stream to Be Kept in Repair; Forfeiture.
Section 485.120 - Injury to Stream or Property; Penalty.
Section 485.121 - Log Jam; Power to Break, Lien for Cost.
Section 485.122 - Lien; Enforcement.
Section 485.123 - Lien on Floatables; Owner Unknown or Without Jurisdiction of Court.
Section 485.124 - Annual Report; Contents.
Section 485.126 - Stockholder's Liability; Recovery Prerequisites.