458.55 Extension of corporate existence; filing resolution with department of commerce; effect.

206 words·~1 min read·/mi/chapter-458/458-55

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Sec. 15.

Any corporation organized under the provisions of this act, whose corporate existence is about to expire by limitation, may extend its corporate existence from time to time for a term not exceeding 30 years, by causing to be filed with the office of the corporation and securities bureau of the department of commerce, a copy of a resolution expressing a desire to so extend its corporate existence, which resolution shall be adopted by such corporation at a meeting called for the purpose by the pastor of the church.

When such resolution is left for record with the corporation and securities bureau of the department of commerce, the corporate existence of such body shall be extended in accordance with the terms of such resolution for a term not exceeding 30 years from the date of the expiration of its former term, and all rights of property and of contract shall remain unimpaired and the corporate identity of such body shall remain unchanged.

History: 1905, Act 27, Imd. Eff. Mar. 22, 1905 ;-- CL 1915, 11058 ;-- CL 1929, 10873 ;-- CL 1948, 458.55 ;-- Am. 1982, Act 75, Imd. Eff. Apr. 19, 1982