Michigan Laws 456.106a – Conveyance of land
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Terms Used In Michigan Laws 456.106a
- 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 corporation shall not convey any part or portions of land owned by it if the land is part of the plan or design of the cemetery adopted and recorded as provided in section 6 unless at least $5,000.00 for each acre so conveyed is allocated to the irrevocable endowment fund established in section 7 of this act.