Michigan Laws 457.206 – Board of trustees; powers
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Terms Used In Michigan Laws 457.206
- 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.
- 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
- United States: shall be construed to include the district and territories. See Michigan Laws 8.3o
The management and direction of the interests, affairs and property of such corporation shall be vested in said board of trustees, and said board shall make all needful rules, ordinances and by-laws, regulating the transaction of the business and management of the property, and all the affairs, concerns and interests of such corporation, and providing for the time and manner of electing the officers and trustees of the corporation, and the length of the terms of office of the trustees, a part of whom, after the first election, shall be chosen annually: Provided, That such rules, ordinances and by-laws, shall not be repugnant to the constitution and laws of the grand lodge of the order of Free Masons of the state of Michigan, and the constitution and laws of the United States and this state.