Michigan Laws 456.253 – Vault associations; corporate powers
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Terms Used In Michigan Laws 456.253
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Said association may purchase or take by devise or gift, hold, and convey, real estate not exceeding 3 acres of land, and may erect thereon, a vault and such other suitable buildings necessary to carry out the objects of said association.