SUMMER RESORT AND PARK ASSOCIATIONS
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, and to repeal all laws or parts of laws in conflict herewith; and to impose certain duties on the department of commerce.
History: 1897, Act 230, Imd. Eff. June 4, 1897
;--
Am. 1982, Act 117, Imd. Eff. Apr. 19, 1982
© 2009 Legislative Council, State of Michigan
The People of the State of Michigan enact:
| 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 commerce; 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. |
