There is a newer version of the Michigan Compiled Laws
2006 Michigan Compiled Laws - Mich. Comp. Laws § 485.127 Shares deemed personalty; transfer.
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Act 149 of 1869 485.127 Shares deemed personalty; transfer. Sec. 27. The shares of any company formed under this act shall be deemed personal property, and may be transferred as shall be prescribed by the by-laws of such company.
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