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Terms Used In Michigan Laws 458.86

  • 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.
   The secular affairs of such church shall be managed by a board of trustees consisting of not less than 3 nor more than 9 members, to be elected by said corporation from the membership of the church, the said trustees to hold their office for the term of 1 year. Vacancies in said board may be filled at any time for the balance of the term, by an election as in other cases.