§ 486.101 Water power and supply corporations; incorporators; powers
§ 486.102 Certificate; contents; recording and filing
§ 486.103 Body corporate; governing laws
§ 486.104 Board of directors; members, election, qualification
§ 486.105 Board of directors; election, notice
§ 486.106 Board of directors; majority control
§ 486.107 Capital stock; subscriptions; increase; procedure
§ 486.108 Capital stock; subscriptions, calling in; sale, procedure, proceeds; purchaser’s rights
§ 486.109 Corporate powers, liabilities and restrictions
§ 486.110 Power to construct railroads, telegraph and telephone lines; holding of realty
§ 486.111 Furnishing and use of water; rent, collection
§ 486.112 Injury to stream or property; misdemeanor, penalty
§ 486.113 Board of directors; annual report, contents
§ 486.114 Realty; purchase, holding, disposal; limitations
§ 486.115 Stockholder’s liability; recovery prerequisites
§ 486.116 Shares deemed personal property; transfer

Terms Used In Michigan Laws > Chapter 486 > Act 202 of 1887 - Water Power Companies

  • 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.
  • 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
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
  • Personal property: All property that is not real property.
  • 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