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Terms Used In Michigan Laws 458.26

  • 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 temporalities of said church shall be managed by a board of trustees consisting of not less than 3, nor more than 9 members, to be elected by said corporation, the said trustees to hold their office for the term of 1 year, or until their successors shall be elected and duly qualified. Vacancies in said board may be filled at any time for the balance of the unexpired term by an election as in other cases.