2010 Michigan Compiled Laws
Chapter 485 - CANAL, HARBOR, AND RIVER IMPROVEMENT COMPANIES
Act 149 of 1869 - RIVER IMPROVEMENT COMPANIES (485.101 - 485.129)
Section 485.111 - Subscriptions; increase in capital stock, certificate, filing.

Sec. 11.

The directors of any such company may at any time receive subscriptions to stock in said company until the whole amount of the stock mentioned in their articles of association shall be subscribed; and whenever, in the judgment of the directors, it shall be necessary to increase the capital stock of any such company for the extension or more perfect completion of such proposed work, or to provide lands and buildings needful for its use, it shall be competent for such directors, with the approval or ratification of the holders of a majority of the capital stock, at any lawful meeting of stockholders, to provide for such increase; and in all cases where such capital stock is increased, a certificate thereof shall be signed, certified, and filed as hereinbefore required in case of the original articles of association.

History: 1869, Act 149, Imd. Eff. Apr. 5, 1869 ;-- CL 1871, 2726 ;-- How. 3855 ;-- CL 1897, 6731 ;-- CL 1915, 8832 ;-- CL 1929, 11767 ;-- CL 1948, 485.111