MCL - Act 230 of 1897


Act 230 of 1897

AN ACT to provide for the formation of corporations for the purpose of owning, maintaining, and improving lands and other property kept for the purposes of summer resorts or for ornament, recreation, or amusement; to provide for the powers and duties of certain state governmental officers and entities; and to repeal acts and parts of acts.

History: 1897, Act 230, Imd. Eff. June 4, 1897 ;-- Am. 1982, Act 117, Imd. Eff. Apr. 19, 1982 ;-- Am. 2022, Act 20, Eff. Mar. 29, 2023

The People of the State of Michigan enact:
Document Type Description
Section 455.1 Section Summer resort and park associations; incorporation, purpose.
Section 455.2 Section Articles of association; signing, acknowledgment, contents.
Section 455.3 Section Filing articles with department of licensing and regulatory affairs; subscribers and stockholders as body politic and corporate; powers; alteration or amendment of articles; certification, filing, and recording.
Section 455.4 Section Evidence of incorporation.
Section 455.5 Section Certificates of stock; signing, sealing, right to vote.
Section 455.6 Section Annual meeting; notice, failure to hold.
Section 455.7 Section Annual report; stockholders, contents; perjury.
Section 455.8 Section First meeting; notice.
Section 455.9 Section Board of directors; qualifications, election, terms, vacancy; stock, ceasing ownership; quorum.
Section 455.10 Section Board of directors; powers.
Section 455.11 Section Board of directors; officers and employees, selection, removal, terms.
Section 455.12 Section By-laws and rules; amendment.
Section 455.13 Section Books; inspection; stock, transfer.
Section 455.14 Section Capital stock; deemed personal property, transfer; lien on stock, enforcement; subscriptions; shares, issuance.
Section 455.15 Section Capital stock; subscriptions, payment; suit; sale, procedure; disposition of proceeds; purchaser, rights.
Section 455.16 Section Annual dues; levy, use, payment.
Section 455.16a Section Allocation of taxable and assessed values to stockholder lessees; percentage; burden of proof; property transfer affidavit; assessment roll change or tax roll change; "inflation rate" defined.
Section 455.17 Section Stockholders' liability; subrogation; contribution.
Section 455.18 Section Annual report.
Section 455.20 Section Stockholders; map or plat of land; record; use as evidence; street, public places.
Section 455.21 Section Stockholders; map or plat of land; ownership, sale; dissolution, disposition of lots; parks and walks dedicated to public use.
Section 455.22 Section Repeal; saving clause; provisions governing act.
Section 455.23 Section Special dues; purpose, time, enforcement.
Section 455.24 Section Associate members; terms; stock, disposition.