Michigan Laws 456.202 – Articles of agreement; signing, acknowledgment, contents
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The articles of agreement of every corporation formed under the provisions of this act shall be signed by the persons associating in the first instance, and acknowledged before some person authorized by the laws of this state to take the acknowledgment of deeds, and shall state:
1. The object for which it is organized.
Terms Used In Michigan Laws 456.202
- 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
- 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
2. The amount of land which it owns or proposes to purchase, and the town and county in which the same is situated.
3. The amount of its capital stock and the number of shares into which the same shall be divided.
4. The name by which such corporation shall be known.
5. The names of those who shall constitute the first board of directors, and the name of the first treasurer.
6. The names of the subscribers to the articles of association, and the number of shares subscribed by each, toward the required capital.
7. The term of duration of such corporation, which shall not exceed 30 years.