473.82 Consolidated street railway and electric light company; procedure for acquisition of rights.

475 words·~2 min read·/mi/chapter-473/473-82

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Sec. 2.

In order to entitle any such consolidated company to the benefits of this act, the stockholders of said company, at any meeting of such stockholders duly called and held, by a vote of at least 3/4 of all the capital stock of said company then outstanding in favor thereof, may adopt a resolution that such company (naming it) desires, and avails itself of the provisions of this act, to acquire, possess and exercise all of the rights, powers, privileges and franchises mentioned and referred to in section 1 of this act; and stating and setting forth also the names of the towns, cities and villages and the county in which the operations of said company are to be carried on.

When so adopted, a copy of such resolution with a certificate thereto affixed, signed by the president and secretary of such company and sealed with the corporate seal, stating the fact and date of the adoption of such resolution, and that such copy is a true copy of the original, and that the meeting at which such resolution was so adopted was duly called and held, shall be filed and recorded in the office of the secretary of state; and a copy of such resolution, certified and authenticated in like manner, shall be filed and recorded in the office of the county clerk of the county wherein the operations of said company are to be carried on.

And upon the filing of a copy of such resolution, certified and authenticated, as aforesaid, in the office of the secretary of state and in the office of the county clerk of the proper county, as hereinbefore provided, such consolidated company shall be deemed and taken to have acquired and to possess and to be entitled to exercise all of the rights, powers, privileges and franchises mentioned and referred to in section 1 of this act in the towns, cities and villages and in the county in which the operations of said company are to be carried on, as stated in said resolution, with the same force and effect as if the electric light company of which such consolidated company is in part constituted had been organized after the first day of June, 1899, for all of the objects and purposes for which, since said day, an electric light company might be organized under the laws of Michigan to carry on its operations in the cities, towns and villages and in the county in said resolution mentioned, and such consolidated company had thereafter and after said day been formed by the union of such electric light company with a street railway company.

History: 1903, Act 61, Imd. Eff. Apr. 28, 1903 ;-- CL 1915, 8579 ;-- CL 1929, 11339 ;-- CL 1948, 473.82