Michigan Laws 457.266 – Powers of corporation as to property of subordinate chapters
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Terms Used In Michigan Laws 457.266
- 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.
- Trustee: A person or institution holding and administering property in trust.
Said corporation may hold real or personal estate, or both, of subordinate chapters and may do all things in law relating thereto as trustee, and may convey the same as above under the direction of such subordinate chapter and the rules, regulations and by-laws of the grand chapter in relation thereto.