Terms Used In Michigan Laws 447.2

• Act of congress: means the act of congress approved June 18, 1934, entitled "An act to provide for the establishment, operation and maintenance of foreign trade zones in ports of entry of the United States, to expedite and encourage foreign commerce, and for other purposes". See Michigan Laws 447.1
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.