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Terms Used In Michigan Laws 458.529

  • 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.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Personal property: All property that is not real property.
  • 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
  • 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
  •    Said corporation may have a seal and alter the same at pleasure. It may, in its corporate name, sue and be sued in all courts of this state. It shall have power to acquire, hold, sell, move and convey property, both real and personal, in accordance with this act, and it may recover and hold all the debts, demands, rights, privileges and all property, whether real or personal, of whatsoever sort it may be, belonging or appertaining to said church, in whatever manner the same may have been acquired, and in whose hands soever the same may be held, the same as if the right and title had originally been vested in said corporation. The board of trustees may authorize 1 or more of said board to affix the name and seal of said corporation, and to execute and attest conveyances, notes, obligations, acquittances, and all necessary legal documents. It may sell (but not mortgage) or otherwise dispose of its personal property, and it may, under restrictions hereinafter provided, sell, mortgage or otherwise dispose of or encumber its real estate, but not for current expenses. It may hold so much land as may be needed for the proper purposes of the church and its parsonage. It may also hold, for a period not to exceed 10 years, real estate, which may be conveyed or devised to it or to said trustees to be sold and the proceeds to be used in any way for the benefit of said church, as directed in the conveyance or will. Said corporation shall at all times permit all ministers belonging to the United Missionary church as shall from time to time be duly authorized by the general conference, or the annual conference, within whose bounds the said corporation may be, to preach and expound God’s Holy Word therein; and shall permit district superintendents and pastors, duly appointed, to execute the discipline of the United Missionary church, and to administer the sacraments therein.