457.43 Articles; filing; body corporate, powers.

224 words·~1 min read·/mi/chapter-457/457-43

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

Sec. 3.

A copy of said articles of association shall be filed with the secretary of state, and thereupon the persons, who shall have signed such articles of association, their associates and successors, shall be a body politic and corporate, by the name expressed in such articles of association, and by that name they and their successors shall have succession and shall be persons in the law capable to purchase, take, receive, hold and enjoy to them and their successors, estates, real and personal, of suing and being sued, and they and their successors may have a common seal which may be changed and altered at their pleasure, provided that the value of such real and personal estate shall not exceed the sum of 100,000 dollars, and that they may and their successors shall have authority and power to give, grant, sell, lease, mortgage and dispose of said real and personal estate or any part thereof at their will and pleasure, and the proceeds thereof, rents and incomes therefrom, shall be devoted exclusively to the humane and benevolent purposes of the Ancient Order of Hibernians of the state of Michigan.

History: 1879, Act 84, Imd. Eff. May 20, 1879 ;-- How. 4536 ;-- CL 1897, 7827 ;-- CL 1915, 10263 ;-- CL 1929, 10553 ;-- CL 1948, 457.43