Michigan Laws 454.53 – Trades unions; new corporation; vesting of rights; recovery
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Terms Used In Michigan Laws 454.53
- 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.
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
All moneys, property or rights in action, equitably belonging to any association at the time the same may or shall become incorporated under the provisions of this act, shall vest in the corporation so formed, and may be recovered by such corporation in an action in assumpsit or on the case, from any person unlawfully withholding the same.