Michigan Laws 455.201 – Summer resort owners; incorporation, purpose
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Terms Used In Michigan Laws 455.201
- 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.
That any number of freeholders, not less than 10, who may desire to form a summer resort owners corporation for the better welfare of said community and for the purchase and improvement of lands to be occupied for summer homes and summer resort purposes, may, with their associates and successors, become a body politic and corporate, under any name by them assumed in their articles of incorporation, in the manner herein provided.