457.297 Powers of corporation; property, holding, disposition.

308 words·~1 min read·/mi/chapter-457/457-297

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Sec. 7.

Every corporation under and in pursuance of this act shall have full power and authority to provide by its by-laws from time to time for the election from its own members of such other officers of the corporation, under and by such name and style as shall be in accordance with its ritual, by-laws and constitution, and instead of appointing a board of trustees to have the management and control of its property, interests and affairs as provided in sections 5 and 6 of this act, may if the corporation so choose, provide in its rituals and by-laws that the property, affairs and interests of the corporation shall be managed and controlled by such persons or officers of the corporation, or in such manner as the corporation shall from time to time provide for that purpose in such by-laws; and the corporation may enact all such by-laws, rules and regulations as may be necessary for its government and the government of subordinate shrines and for the care and management of its property, and for the care and management of the property of subordinate shrines and the affairs and interests of both the supreme and subordinate bodies and to carry into effect the powers and privileges in this act granted and may alter and amend the same at pleasure:

Provided, however, That in all cases where such corporation shall choose to appoint a board of trustees to have the management of its property and affairs, such board shall have the power and the management and the direction of the interests and property of the corporation as provided in sections 5 and 6 of this act.

History: 1897, Act 256, Imd. Eff. June 2, 1897 ;-- CL 1897, 7989 ;-- CL 1915, 10433 ;-- CL 1929, 10648 ;-- CL 1948, 457.297