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10 chapters · 106 sections in this title.
Mich. Comp. Laws § 486.51 Water power and supply corporations; incorporators; powers.
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Sec. 1. That any number of persons not less than 5, may form themselves into a corporation for the purpose of excavating and constructing, maintaining, repairing and improving any canal already existing, or which they may wish to excavate and construct, with water power appurtena…
Mich. Comp. Laws § 486.52 Certificate; contents; recording and filing.
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Sec. 2. Such persons under their hands and seals shall make a certificate which shall specify: First, The name of the corporation; Second, A statement of the amount of capital stock of such company, and the number of shares into which the capital stock shall be divided; Third, Th…
Mich. Comp. Laws § 486.53 Body corporate; governing laws.
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Sec. 3. Upon complying with the provisions of the last preceding section such company shall be a body corporate by the name designated in said certificate, and shall be subject to and governed by all the general provisions relating to corporations embraced in chapter 130 of the C…
Mich. Comp. Laws § 486.54 Board of directors; members, election, qualification.
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Sec. 4. The business and property of such company shall be managed and directed by a board of not less than 5 nor more than 7 directors, who shall be elected annually and at such time and place as said by-laws may direct. No person shall be a director unless he is a stockholder i…