Bill Text: MI SB0407 | 2021-2022 | 101st Legislature | Introduced
Bill Title: Businesses: associations; summer resort and park associations; modify powers for board of directors. Amends title & sec. 10 of 1897 PA 230 (MCL 455.10).
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-05-04 - Referred To Committee On Economic And Small Business Development [SB0407 Detail]
Download: Michigan-2021-SB0407-Introduced.html
SENATE BILL NO. 407
A bill to amend 1897 PA 230, entitled
"An act to provide for the formation of corporations for the purpose of owning, maintaining and improving lands and other property kept for the purposes of summer resorts or for ornament, recreation or amusement, and to repeal all laws or parts of laws in conflict herewith; and to impose certain duties on the department of commerce,"
by amending the title and section 10 (MCL 455.10), the title as amended by 1982 PA 117.
the people of the state of michigan enact:
An act to provide for the formation of corporations for the purpose of owning, maintaining and improving lands real and other personal property kept for the purposes of summer resorts or for ornament, recreation or amusement; , and to repeal all laws or parts of laws in conflict herewith; and to impose certain duties on the department of commerce.to provide for the powers and duties of certain state governmental officers and entities; and to repeal acts and parts of acts.
Sec. 10. (1) The board of directors of the corporation shall have the management manage and control of the stock, business, finances, rights and interests, buildings and all real and personal property , real and personal, of the corporation. , and shall have
(2) The board of directors of the corporation has jurisdiction over the lands real property of the corporation and all streets, alleys, and highways passing through and over the same, or which said real property of the corporation or which the corporation may cause to be constructed, laid out, or maintained therein, and within that real property and over the water within and in front of said lands and premises. The that real property.
(3) Except as otherwise provided in this subsection, the board of directors of the corporation shall in no case in any 1 year, not authorize any expenditure or incur any liability on behalf of such the corporation to exceed 1,000 dollars unless that exceeds $1,000.00 in any 1 year unless that expenditure or liability is authorized by a majority of all the shares of stock by said of the corporation in a meeting duly assembled. : Provided, That in the If the principal office of the corporation is located in a county of Emmet with a population of less than 350,000, the board of directors of the corporation may authorize any expenditure or incur any liability on behalf of such the corporation to an amount not exceeding 5,000 dollars that does not exceed $5,000.00 in any 1 year.
