Terms Used In Michigan Laws 457.175

  • 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.
   Such corporation, when duly formed, shall have power to institute and charter grand and subordinate lodges of said order, and from time to time to make, ordain, constitute and establish such general laws and by-laws, ordinances, and regulations for the government of such grand or subordinate lodge, as to them shall seem proper and necessary; and in case of violation, or non-compliance with such ordinances, by-laws, and regulations, to revoke and annul the charter granted such grand or subordinate lodges: Provided, That the existing subordinate lodges, heretofore duly chartered by the supreme lodge, shall be subject to the control of the supreme lodge under this act, as heretofore, and in the same manner, and to the same extent as those that may hereafter be instituted and chartered under this act.