Sec. 1.
That any number of persons not less than 5 may form themselves into a corporation for the purpose of damming any stream and of excavating and constructing, maintaining, repairing and improving any canal already existing or which they may wish to excavate and construct with water power appurtenant thereto and may own, lease, use and control the same for the purpose of accumulating, storing, conducting, selling, furnishing and supplying upon an agreed rental water and water power, for mining, milling, manufacturing, domestic, municipal and agricultural purposes and for purposes of navigation, and may acquire, hold, lease and convey lands or water power as may be necessary or convenient for the purposes above specified by complying with the following requirements.
History: 1887, Act 202, Imd. Eff. June 18, 1887 ;-- How. 3895r ;-- CL 1897, 6806 ;-- CL 1915, 8904 ;-- CL 1929, 11839 ;-- CL 1948, 486.101
Structure Michigan Compiled Laws
Chapter 486 - Water and Power Companies
Act 202 of 1887 - Water Power Companies (486.101 - 486.116)
Section 486.101 - Water Power and Supply Corporations; Incorporators; Powers.
Section 486.102 - Certificate; Contents; Recording and Filing.
Section 486.103 - Body Corporate; Governing Laws.
Section 486.104 - Board of Directors; Members, Election, Qualification.
Section 486.105 - Board of Directors; Election, Notice.
Section 486.106 - Board of Directors; Majority Control.
Section 486.107 - Capital Stock; Subscriptions; Increase; Procedure.
Section 486.109 - Corporate Powers, Liabilities and Restrictions.
Section 486.110 - Power to Construct Railroads, Telegraph and Telephone Lines; Holding of Realty.
Section 486.111 - Furnishing and Use of Water; Rent, Collection.
Section 486.112 - Injury to Stream or Property; Misdemeanor, Penalty.
Section 486.113 - Board of Directors; Annual Report, Contents.
Section 486.114 - Realty; Purchase, Holding, Disposal; Limitations.
Section 486.115 - Stockholder's Liability; Recovery Prerequisites.
Section 486.116 - Shares Deemed Personal Property; Transfer.