Michigan Laws 453.291 – Local agricultural societies; renewal procedure
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Terms Used In Michigan Laws 453.291
- 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
That it shall be lawful for any town, county or district agricultural corporation, association or society organized under the laws of this state, whose term of corporate existence has expired or is about to expire, by limitation, to reorganize for a further period, not exceeding 30 years, at any regular or special meeting of its stockholders, if a stock company, or in case of no capital stock of its board of directors, trustees or managers, by a resolution adopted for that purpose, by a vote of 4/5 of its capital stock, or in case of no capital stock by a vote of 3/4 of its trustees, members, directors or managers, in favor of such resolution.