Michigan Laws 455.202 – Articles of association; contents
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The persons so associating shall subscribe and verify articles of association stating:
First: The corporate name chosen;
Terms Used In Michigan Laws 455.202
- annual meeting: when applied to townships, mean the annual meeting required by law to be held on the Saturday immediately preceding the first Monday in April. See Michigan Laws 8.3d
- 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.
- 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.
- 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
Second: The names and residences of the persons thus associating;
Third: A legal description of the land owned by each of such persons and to be subject to the jurisdiction of the corporations;
Fourth: The purposes of such corporation;
Fifth: The number of trustees to manage the affairs of said corporation, their terms of office, the names of the trustees for the first year or until the annual meeting of the corporation;
Sixth: The county in which its real estate shall be situate and its meetings held;
Seventh: The term of its existence, which shall not exceed 30 years;
Eighth: The persons so associating may provide for capital stock, in which case the articles of association shall state the amount thereof, which shall not exceed 50,000 dollars in total par value. The names, residences and number of shares subscribed by each, if any, at the time of the execution of the said articles of association.