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2021 Michigan Compiled Laws
Chapter 462 - Railroads
Act 354 of 1993 - Railroad Code of 1993 (462.101 - 462.451)
Section 462.221 - Stock as Personal Estate; Transfer.
Universal Citation: MI Comp L § 462.221 (2021)
462.221 Stock as personal estate; transfer.
Sec. 221.
The stock of a railroad company is considered personal estate and is transferable in the manner and under such restrictions and conditions as may be provided for in the by-laws, but any certificate of stock issued before payment in full, shall show on its face, or by indorsement, the amount paid thereon. A share of stock shall not be transferred on the books of the company until paid in full, without the consent of the board of directors.
History: 1993, Act 354, Imd. Eff. Jan. 14, 1994
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