Sec. 10.
All assessments made under the provisions of this act shall be and remain a mortgage-lien upon the interest so assessed, from and after the completion of the work for which such assessment was made, until paid, together with interest and the cost of publishing notice, if notice shall be published, and said mortgage-lien shall have preference over all incumbrances on said interest from and after the recording of a certificate, as is hereinafter provided, except incumbrances now existing thereon in good faith, and except taxes assessed or to be assessed thereon by any law of this state.
History: 1863, Act 232, Eff. June 22, 1863 ;-- Am. 1871, Act 90, Imd. Eff. Apr. 12, 1871 ;-- CL 1871, 2754 ;-- How. 3883 ;-- CL 1897, 6776 ;-- CL 1915, 8876 ;-- CL 1929, 11811 ;-- CL 1948, 486.10
Structure Michigan Compiled Laws
Chapter 486 - Water and Power Companies
Act 232 of 1863 - Water Power Companies (486.1 - 486.22)
Section 486.2 - Articles of Association; Signing, Filing, Evidence; Body Corporate, Powers.
Section 486.3 - Board of Directors; Annual Election, Notice; Officers, Treasurer's Bond; Vacancy.
Section 486.4 - Membership in Association; Procedure, Rights.
Section 486.5 - Repairs; Permanent Improvements, Approval of Members; Expense.
Section 486.6 - Repairs; Statement, Filing, Contents.
Section 486.7 - Assessment for Repairs or Improvements.
Section 486.8 - Assessment; Collection; Non-Payment, Use of Water Prohibited.
Section 486.9 - Assessment; Notice to Non-Resident.
Section 486.10 - Assessment; Mortgage Lien; Preference.
Section 486.11 - Mortgage Lien; Certificate, Contents, Recording.
Section 486.12 - Mortgage Lien; Foreclosure.
Section 486.13 - Mortgage Lien; Commencement of Suit After 60 Days.
Section 486.14 - Meetings of Members of Associations; Notice, Proof of Service, Filing.
Section 486.15 - Watchman; Appointment, Duties, Compensation.
Section 486.16 - Contracts Made by Board of Directors.
Section 486.17 - Treasurer; Duties.
Section 486.18 - Assessment; Recovery, Interest.
Section 486.19 - Disposition of Funds at Annual Meeting.
Section 486.21 - Stockholder's Liability.
Section 486.22 - Tenants in Common; Consent for Improvements and Repairs, Liability.