Terms Used In Michigan Laws 457.625

  • 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 senates within the state and from time to time to make, ordain, constitute, and establish such constitution, laws and by-laws, ordinances and regulations, as the supreme senate shall judge proper for the regulation and government of such subordinate senates, not repugnant to the laws of this state: Provided, That the existing subordinate senates, heretofore duly chartered by the supreme senate, shall be subject to the control of the supreme senate, 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 corporators or persons, associating in the first instance, shall by death, resignation or for other cause, under the rules of the supreme senate, become ineligible to act in such capacity their successors may, from time to time, be appointed by the supreme senate.