Michigan Laws 457.46 – Subordinate divisions; chartering; existing divisions; regulation
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Terms Used In Michigan Laws 457.46
- 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.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
Such corporation when duly formed, shall have power to institute and charter subordinate divisions within this state, and from time to time to make, ordain, constitute and establish such constitution, general laws and by-laws, ordinances and regulations as the state convention shall judge proper for the regulations and government of such subordinate division, not repugnant to the laws of this state: Provided, That the existing subordinate divisions heretofore duly chartered by the state convention, shall be subject to the control of the state conventions under this act as heretofore, and in the same manner and to the same extent as those that may be hereafter instituted and chartered under this act: Provided further, That in case the corporation or persons associating in the first instance, shall by death, resignation or for other causes, under the rules of the state convention become ineligible to act in such capacity, their successors may from time to time be appointed by the state division.