Michigan Laws 454.159 – Trade promotion societies; new corporation, rights, recovery
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Terms Used In Michigan Laws 454.159
- 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
All moneys, properties, or rights in action, equitably belonging to any society, union, or association at the time the same shall become incorporated under the provisions of this act, shall vest in the corporation so formed, and may be recovered by such corporation in an action of assumpsit, or on the case from any person unlawfully withholding the same.