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Terms Used In Michigan Laws 455.53

  • 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.
     The execution of such articles of association shall be acknowledged by the persons signing the same before some officer authorized to take the acknowledgment of deeds. Such articles shall thereupon be filed with the corporation and securities bureau of the department of commerce, which, after making such record, shall certify upon such articles the date and place of record thereof and return the same to the association.