Michigan Laws 457.253 – Powers of corporation; property, holding, disposition
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Terms Used In Michigan Laws 457.253
- 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.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
- seal: shall be construed to include any of the following:
(a) The impression of the seal on the paper alone. See Michigan Laws 8.3n
Said corporation, under the direction of the grand council when assembled, may make and establish all necessary by-laws and rules for its governance and the governance of subordinate councils under the jurisdiction of the grand council, relating to the business and property authorized to be done, held and conveyed by this act; and said corporation may take, hold and convey, as may be required from time to time, any real and personal estate for the purpose of its or their organizations, not exceeding in value in the aggregate the sum of 50,000 dollars; and all real and personal estate so held may be conveyed by deed or bill of sale in the name of said corporation, executed by the grand master for the time being, or by such other person as the board of directors may appoint for that purpose, under the seal of the grand council, and such conveyance so executed shall be valid and binding for all intents and purposes whatsoever: Provided, That the property of said association shall be subjected to taxation for all purposes.