Sec. 1.
That any number of persons not less than 5, may form themselves into a corporation for the purpose 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, 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, manufacturing, domestic, municipal and agricultural purposes, and may acquire, take, 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: 1883, Act 39, Imd. Eff. Apr. 21, 1883 ;-- How. 3895a ;-- CL 1897, 6789 ;-- CL 1915, 8889 ;-- CL 1929, 11824 ;-- CL 1948, 486.51 Popular Name: Water Company Act
Structure Michigan Compiled Laws
Chapter 486 - Water and Power Companies
Act 39 of 1883 - Water Power Companies (486.51 - 486.66)
Section 486.51 - Water Power and Supply Corporations; Incorporators; Powers.
Section 486.52 - Certificate; Contents; Recording and Filing.
Section 486.53 - Body Corporate; Governing Laws.
Section 486.54 - Board of Directors; Members, Election, Qualification.
Section 486.55 - Board of Directors; Election, Notice.
Section 486.56 - Board of Directors; Majority Control.
Section 486.57 - Capital Stock; Subscriptions; Increase, Procedure.
Section 486.59 - Corporate Powers; Liabilities and Restrictions.
Section 486.60 - Power to Construct Railroads, Telegraph and Telephone Lines; Holding of Realty.
Section 486.61 - Furnishing and Use of Water; Rent, Collection.
Section 486.62 - Injury to Stream or Property; Misdemeanor, Penalty.
Section 486.63 - Board of Directors; Annual Report, Contents.
Section 486.65 - Stockholder's Liability; Recovery Prerequisites.