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Terms Used In Michigan Laws 453.404

  • 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.
  • 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
     Said corporation shall have full power and authority to make and establish a constitution, by-laws, rules and regulations, not in conflict with the laws of this state, and to alter and amend the same.