2006 Michigan Compiled Laws - Act 327 of 1931


Act 327 of 1931

AN ACT to provide for the organization, regulation and classification of corporations; to provide their rights, powers and immunities; to prescribe the conditions on which corporations may exercise their powers; to provide for the inclusion of certain existing corporations within the provisions of this act; to prescribe the terms and conditions upon which foreign corporations may be admitted to do business within this state; to require certain annual reports to be filed by corporations; to prescribe penalties for the violations of the provisions of this act; and to repeal certain acts and parts of acts relating to corporations.

History: 1931, Act 327, Eff. Sept. 18, 1931

The People of the State of Michigan enact:

Section 450.1-450.61Repealed. 1951, Act 239, Eff. Sept. 28, 1951;—1962, Act 174, Eff. Jan. 1, 1964;—1967, Act 67, Eff. Nov. 2, 1967;—1972, Act 284, Eff. Jan. 1, 1973.
Section 450.62-450.64Repealed. 1982, Act 162, Eff. Jan. 1, 1983.
Section 450.65-450.80Repealed. 1972, Act 284, Eff. Jan. 1, 1973.
Section 450.81Repealed. 1982, Act 162, Eff. Jan. 1, 1983.
Section 450.82-450.91aRepealed. 1972, Act 284, Eff. Jan. 1, 1973.
Section 450.92Repealed. 1982, Act 162, Eff. Jan. 1, 1983.
Section 450.93-450.97Repealed. 1974, Act 140, Imd. Eff. June 5, 1974.
Section 450.98Applicability of act to corporations limiting dividends or voting rights, and conducting not more than 50% of business with nonstockholders or nonmembers; classification of corporations organized under §§ 450.98 to 450.109 as profit and nonprofit.
Section 450.99Cooperative plan; definition; allocation of reserved earnings; cooperative corporations; use of term "cooperative,""co-op," or variation thereof.
Section 450.100Cooperative corporations; shares of stock, contents.
Section 450.101Cooperative corporations; shareholders' powers; directors, election, term, number; voting.
Section 450.102Cooperative corporations; membership, regulations.
Section 450.103Cooperative corporations; amendments to articles.
Section 450.104Cooperative corporations; reserve funds, investment; shareholders, vote.
Section 450.105Cooperative corporations; purchase of business; payment, methods.
Section 450.106Cooperative corporations; distribution of dividends; reserves; distribution of cooperative dividends; determining annual privilege fee.
Section 450.107Cooperative corporations; surplus earnings, distribution; failure, penalty.
Section 450.108Cooperative corporations; dealing in commodities; contracts, agreements.
Section 450.109Cooperative corporations; breach of contract; encouragement prohibited; penalty.
Section 450.117-450.132aRepealed. 1982, Act 162, Eff. Jan. 1, 1983.
Section 450.133Incorporation of fraternal or secret societies; parent lodge.
Section 450.134Parent corporations; articles of incorporation.
Section 450.135Parent corporations; ritual, rules; subordinate lodges, chartering.
Section 450.136Parent corporations; supervision, subordinate lodge.
Section 450.137Parent corporations; management, secretary.
Section 450.138Parent corporations; name, regulations.
Section 450.139Parent corporations; powers as to property.
Section 450.140Parent corporations; government, representative form; first annual meeting.
Section 450.141Parent corporations; annual meeting, powers.
Section 450.142Local lodges; purpose.
Section 450.143Local lodges; articles of incorporation.
Section 450.144Local lodges; powers as to property; parent corporation, supervision.
Section 450.145Local lodges; officers, representatives.
Section 450.146Parent or local lodges; powers of non-profit corporation.
Section 450.147Parent or local lodges; relief funds, raising, payment from treasury.
Section 450.148Trustee corporations; definition.
Section 450.149Trustee corporations; trustees, vesting of property; trust instrument, definition.
Section 450.150Trustee corporations; articles of incorporation.
Section 450.151Trustee corporations; officers.
Section 450.152Trustee corporations; powers as to property.
Section 450.153Trustee corporations; property and funds, use, investments.
Section 450.154Trustee corporations; trustees, vacancy, filling.
Section 450.155Trustee corporations; circuit courts, petition; jurisdiction of court.
Section 450.156Trustee corporations; act amendment of trustee agreement.
Section 450.157Trustee corporations; hospitals; asylums; trustee instrument; apprenticing destitute or foundling children.
Section 450.158Trustee corporations; hospital, asylum, charitable institution; gifts, acceptance.
Section 450.159Church trustee corporations; trustees, election, number; certification of election.
Section 450.159aChurch trustee corporations; trustees, increase, decrease; resolutions, adoption; meetings, terms; additional trustee, election.
Section 450.160Church trustee corporations; trustees, vacancy, filling.
Section 450.161Church trustee corporations; powers as to property.
Section 450.162Church trustee corporations; investment, powers, certificate.
Section 450.163-450.167Repealed. 1982, Act 162, Eff. Jan. 1, 1983.
Section 450.167aHenry Ford trade school; dissolution; cancellation of franchise; assets, disposal, sale; debts, payment; retirement program; payment of dissolution charges; certificate, filing, contents.
Section 450.168Repealed. 1982, Act 162, Eff. Jan. 1, 1983.
Section 450.169Corporations to provide student aid.
Section 450.170Educational corporations; incorporation.
Section 450.171Educational corporations; classification; statement; guaranteed annual income as credit to capital; use of "college,""university," or "junior college" as name; expansion of program.
Section 450.172Educational foundations; colleges, establishment.
Section 450.173Educational foundations; articles of incorporation, contents, amendment.
Section 450.174Educational foundations; property, acceptance; government.
Section 450.175Educational foundations; board of directors, trustees; powers.
Section 450.176Educational foundations; holders of diplomas, certificates, privileges.
Section 450.177Educational foundations; inspection by state board of education, time; annual report, contents.
Section 450.178Ecclesiastical corporations; incorporation; purpose.
Section 450.179Ecclesiastical corporations; articles of incorporation.
Section 450.180Ecclesiastical corporations; articles, execution, contents; receivership; unclaimed property, state.
Section 450.181Ecclesiastical corporations; by-laws.
Section 450.182Ecclesiastical corporations; articles, amendment procedure.
Section 450.183Ecclesiastical corporations; powers as to property.
Section 450.184Ecclesiastical corporations; gifts, acceptance, investment.
Section 450.185Ecclesiastical corporations; powers of church unrestricted.
Section 450.186Ecclesiastical corporations; Sunday school, religious society; incorporation.
Section 450.186aPublic building corporations; incorporation; contracts with state administrative board, legislature's approval.
Section 450.186bPublic building corporations; powers as to property; state contracts, leases; bonds; by-laws.
Section 450.186cPublic building corporations; non-profit provisions, applicability; administration of property and accumulation; rent to state; fees, purpose.
Section 450.186dPublic building corporations; trustees, number, terms, compensation; members, term, admission.
Section 450.186ePublic building corporations; winding up affairs by legislature; property, conservation, disposition.
Section 450.187Repealed. 1965, Act 161, Imd. Eff. July 15, 1965.
Section 450.187aRepealed. 1970, Act 66, Imd. Eff. July 10, 1970.
Section 450.187bRepealed. 1972, Act 284, Eff. Jan. 1, 1973.
Section 450.188, 450.189Repealed. 1982, Act 162, Eff. Jan. 1, 1983.
Section 450.190Catchline headings of sections not part of act.
Section 450.191Repeal of acts and parts of acts; §§ 450.631 and 450.632 inapplicable to corporations governed by this act.
Section 450.192Saving clause.

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