484.163 Books; inspection, use as evidence; penalty, forfeiture.
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484.163 Books; inspection, use as evidence; penalty, forfeiture.
Sec. 13.
It shall be the duty of the directors of every such corporation or company to cause books to be kept by the treasurer or secretary or other officers thereof, containing the names of all persons, alphabetically arranged, who are or shall within 6 years have been stockholders of such company, and showing their place of residence, the number of shares of stock held by them respectively, and the time when they respectively became owners of such shares, and the amount of stock actually paid in; which book shall be kept open in the principal office of every such company in every county in which such company transact [sic] business, for the inspection of stockholders and creditors of such company and their personal representatives; and any and every such person shall have a right to make extracts from any such book.
Such books shall be presumptive evidence of the facts therein stated in favor of the plaintiff, in any suit or proceeding against such company, or against any 1 or more stockholders. Every officer or agent of any such company, who shall fail or neglect to make any proper entry in any such book, or shall neglect or refuse to exhibit the same, or allow the same to be inspected, and extracts to be taken therefrom as provided by this section, shall be deemed guilty of a misdemeanor, and the company shall forfeit and pay to the party injured a penalty of 50 dollars for every such neglect or refusal, or for neglecting to keep such books open for inspection as aforesaid.
History: 1851, Act 59, Imd. Eff. Mar. 20, 1851 ;-- CL 1857, 2061 ;-- CL 1871, 2637 ;-- How. 3705 ;-- CL 1897, 6679 ;-- CL 1915, 8778 ;-- CL 1929, 11674 ;-- CL 1948, 484.163