Michigan Laws 462.225 – Ownership and operation of steamboats, barges, or vessels; conditions
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 462.225
- 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.
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
- 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
A railroad company in this state having either or both of its terminals at the shore of 1 of the navigable lakes or streams through which the boundary line between this state and other states or the Dominion of Canada passes, where physical connection between its road and other railroads without the state is impracticable by reason of that intervening navigable body of water, may own and operate on that body of water steamboats, barges, or vessels as the traffic of passengers and freight between it and other railroads shall be necessary. A railroad company may loan money to any person or corporation in aid of the construction of steamboats, barges, or other vessels.