Michigan Laws 457.665 – Filing articles of association with department of commerce; associates, and successors as body politic and corporate; powers; evidence of incorporation
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Terms Used In Michigan Laws 457.665
- 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 8.3n
The articles of any such association shall be filed with the corporation and securities bureau of the department of commerce; and thereupon, the persons so associating therein, their associates and successors, shall be a body politic and corporate, by the name expressed in their respective articles, and by their said 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 $100,000.00; and may give, grant, mortgage, sell, lease, devise, and dispose of all or any part of such property at pleasure, but no property of said association, or of any of the subordinate temples of said association, shall be exempt from taxation. A copy of any such articles of association and certificate which is filed with and duly certified by the corporation and securities bureau of the department of commerce shall be prima facie evidence in all courts and tribunals of the due incorporation of such association.