Sec. 16.
The shares of any company formed under this act shall be deemed personal property, and may be transferred as shall be prescribed by the by-laws of such company.
History: 1905, Act 283, Eff. Sept. 16, 1905 ;-- CL 1915, 8935 ;-- CL 1929, 11870 ;-- CL 1948, 486.216
Structure Michigan Compiled Laws
Chapter 486 - Water and Power Companies
Act 283 of 1905 - Water Power Companies (486.201 - 486.216)
Section 486.201 - Water Power and Supply Corporations in Upper Peninsula; Incorporators; Powers.
Section 486.202 - Certificate; Contents; Recording and Filing.
Section 486.203 - Body Corporate; Governing Laws.
Section 486.204 - Board of Directors; Members, Election, Qualifications.
Section 486.205 - Board of Directors; Election, Notice.
Section 486.206 - Board of Directors; Majority Control.
Section 486.207 - Capital Stock; Subscriptions; Increase, Procedure.
Section 486.209 - Corporate Powers; Liabilities and Restrictions.
Section 486.210 - Power to Construct Railroad, Telegraph and Telephone Lines; Holding of Realty.
Section 486.211 - Furnishing and Use of Water or Power; Compensation; Right to Sue and Be Sued.
Section 486.212 - Injury to Stream or Property; Misdemeanor, Penalty.
Section 486.213 - Board of Directors; Annual Report, Contents.
Section 486.214 - Realty; Purchase, Holding, Disposal; Personal Property, Disposal.
Section 486.215 - Stockholder's Liability; Recovery Prerequisites.
Section 486.216 - Shares Deemed Personal Property; Transfer.