Michigan Laws 457.605 – Articles; filing, recording; body corporate, powers; certified copy of articles as evidence
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Terms Used In Michigan Laws 457.605
- 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.
- Devise: To gift property by will.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- seal: shall be construed to include any of the following:
(a) The impression of the seal on the paper alone. See Michigan Laws 8.3nstate: 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
The articles of any such association shall be filed and recorded in the office of the secretary of state, and a copy of the record thereof duly certified by such secretary, together with the certificate, shall be filed and recorded in the office of the clerk of the county where the business office of the association is located, and thereupon the persons so associating therein, their associates and successors, shall be a body corporate and politic, by the name expressed in such articles, and by that name they and their associates and successors shall have succession and shall be capable of suing and being sued, and shall have a common seal to be altered at pleasure, in such manner as the constitution or laws of the order shall prescribe. Such corporation may take, purchase, receive, hold and enjoy real, personal and mixed property, not exceeding in amount 150,000 dollars; and may give, grant, mortgage, sell, lease, devise and dispose of all or any part of such property at pleasure, and the rents, profits and proceeds shall be devoted exclusively to the benevolent purposes of the said order. A copy of such articles of association and certificate, as recorded by the county clerk, duly certified by such clerk, shall be prima facie evidence in all courts and tribunals, of the due incorporation of such association.