Michigan Laws 462.205 – Applicability of MCL 450.1101 to 450.2098 to railroad corporations
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Terms Used In Michigan Laws 462.205
- 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 business corporation act, Act No. 284 of the Public Acts of 1972, being section 450.1101 to 450.2098 of the Michigan Compiled Laws, shall apply to railroad corporations incorporated under this act or a former act repealed by this act, unless otherwise provided in or inconsistent with this act or the former act under which the corporation was formed.