449.315 Existing associations; articles, amendment, procedure; evidence.

197 words·~1 min read·/mi/chapter-449/449-315

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 15.

Every association organized or existing under the provisions of this act may, at any annual meeting or any meeting duly called for that purpose by a resolution adopted by a vote of 2/3 in value of interest of its capital stock, amend its articles of association in any manner not inconsistent with the provisions of this act, but such amendments shall not become operative until a copy of such resolutions, signed by the chairman and secretary of the board of managers of such association, shall have been recorded as is provided herein for the recording of the original articles of association when such amendment shall have the same force and effect as though said amendments had been included in the original articles, and a record or copy of the record of such resolution certified as provided in section 1 for the certification of the original articles of association shall be received in all courts of this state as prima facie evidence of the things therein stated.

History: Add. 1903, Act 244, Imd. Eff. June 18, 1903 ;-- CL 1915, 7964 ;-- CL 1929, 9923 ;-- CL 1948, 449.315