Michigan § 455.305 Corporation; shares of stock; directors, election, terms, powers.

Michigan Statutes

§ 455.305 — Corporation; shares of stock; directors, election, terms, powers.

Michigan § 455.305

Ch. 455SUMMER RESORT AND PARK ASSOCIATIONS

Act 161 of 1911PARKS, PLAYGROUNDS, DRIVES, AND BOULEVARDS (455.301-455.313)

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Bluebook

Mich. Comp. Laws § 455.305 (2026).

Text

PARKS, PLAYGROUNDS, DRIVES, AND BOULEVARDS (EXCERPT) Act 161 of 1911 455.305 Corporation; shares of stock; directors, election, terms, powers. Sec.

5.The corporation shall not have any shares of stock or be for pecuniary profit. It shall have not less than 5 directors to be chosen annually from and by the members at the time and place fixed by the by-laws, they to hold office for 1 year and until their successors are elected. The directors shall manage the affairs of the corporation.

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PARKS, PLAYGROUNDS, DRIVES, AND BOULEVARDS (EXCERPT) Act 161 of 1911 455.305 Corporation; shares of stock; directors, election, terms, powers. Sec. 5. The corporation shall not have any shares of stock or be for pecuniary profit. It shall have not less than 5 directors to be chosen annually from and by the members at the time and place fixed by the by-laws, they to hold office for 1 year and until their successors are elected. The directors shall manage the affairs of the corporation.