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2006 Michigan Compiled Laws - Act 113 of 1869


WATERWORKS

Act 113 of 1869

AN ACT to authorize the formation of companies for the introduction of water into towns, cities and villages, in the state of Michigan.


History: 1869, Act 113, Imd. Eff. Apr. 3, 1869




The People of the State of Michigan enact:

DocumentDescription
Section 486.301Waterworks in municipalities; incorporators; powers.
Section 486.302Certificate; contents, filing and recording; body corporate, name.
Section 486.303Corporate power to hold property.
Section 486.304Capital stock; fixed amount, increase.
Section 486.305Officers; election, term, powers; quorum of stockholders; right to vote.
Section 486.306Corporate powers.
Section 486.307Acquisition and use of lands for purposes of act; survey and map, signing, filing; right of entry.
Section 486.308Condemnation proceedings.
Section 486.309Stock deemed personal property; certificates of stock, transfer; report to assessing officer.
Section 486.310Capital stock; subscriptions, calling in; sale, procedure, proceeds; rights of purchaser.
Section 486.311Stockholder's liability; recovery prerequisites; contribution to creditor.
Section 486.312Contract between municipality and company; obligations.
Section 486.313Stockholders; annual and special meetings.
Section 486.314Officers of company; designation, election, bonding.
Section 486.315Ordinances of common council; granting use of public property; rates of compensation.
Section 486.316Purchase of corporate rights and property by municipality; arbitration.
Section 486.317Municipality as stockholder; issuance of bonds, interest rate limit, tax levy; certain corporations as stockholders.
Section 486.318Company fully organized; qualification, powers, financial arrangements.

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