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Terms Used In Michigan Laws 458.158

  • 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.
     All by-laws, rules and regulations now in existence of the society and not inconsistent with this act of incorporation, shall continue to be the by-laws, rules and regulations of the corporation, until annulled or superseded by some other by-law, rule or regulation of the corporation.