457.510 Incorporated grand or subordinate lodge; surrendering corporate rights, powers, and liabilities; filing certificate with department of commerce; re-incorporation.

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Sec. 10.

Any grand or subordinate lodge which shall have been incorporated before this act takes effect as a law, under the provisions of former Act No. 104 of 1869, may by a vote of the members of such lodge at any regular meeting thereof, surrender its corporate rights, powers and liabilities, but such surrender shall not in any manner affect any suits which may be pending, or any rights which any person may have acquired by virtue of such incorporation; but before such surrender shall be valid, a certificate of the proper officers, under the seal of such lodge, shall be filed with the corporation and securities bureau of the department of commerce, certifying that such lodge has voted to surrender its corporate rights; and any such lodge having so surrendered its corporate rights may be again incorporated, in conformity with the provisions of this act:

Provided, That all members of the corporate body that has surrendered its corporate rights shall, by virtue of such re-incorporation, and the payment of the first beneficiary assessment made by the re-incorporated body be entitled to all the rights and benefits flowing therefrom, and the beneficiary certificates held by them shall be treated and considered by the re-incorporated body as of its own issuance, and shall be, so far as the member is concerned, of the same force and effect as if issued by the re-incorporated body.

History: 1887, Act 83, Imd. Eff. Apr. 22, 1887 ;-- How. 4577z-7 ;-- CL 1897, 8056 ;-- CL 1915, 10529 ;-- CL 1929, 10734 ;-- CL 1948, 457.510 ;-- Am. 1982, Act 88, Imd. Eff. Apr. 19, 1982