Michigan Laws 457.16 – Erection of buildings; capital stock, creation, shares
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Terms Used In Michigan Laws 457.16
- 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.
Any corporation formed in pursuance of this act may erect and own such suitable edifices, buildings or halls as such corporation shall deem necessary, with convenient rooms for the meeting of said lodge, and for that purpose may create a capital stock of not more than 60,000 dollars, to be divided into shares of not more than 25 dollars each.