Michigan Compiled Laws Act 113 Of 1869 Waterworks (486.301 - 486.318)

• Section 486.301 Waterworks In Municipalities; Incorporators; Powers.
  That whenever the common council of any city or incorporated village, or the municipal authority of any town in this state shall, by resolution,...
• Section 486.302 Certificate; Contents, Filing And Recording; Body Corporate, Name.
  Any number of persons not less than 5, who shall associate according to the provisions of this act, under any name assumed by them,...
• Section 486.303 Corporate Power To Hold Property.
  Every such corporation shall, by their name, have power to acquire and hold all such real and personal estate as shall be necessary for...
• Section 486.304 Capital Stock; Fixed Amount, Increase.
  The amount of capital stock in every such corporation shall be fixed by the stockholders in their articles of association, but shall in no...
• Section 486.305 Officers; Election, Term, Powers; Quorum Of Stockholders; Right To Vote.
  The officers shall be elected by the stockholders when 50 per cent of the stock shall be subscribed, and 10 per cent of the...
• Section 486.306 Corporate Powers.
  Any corporation formed under this act shall have power to introduce water into any town, city or village in the state named in their...
• Section 486.307 Acquisition And Use Of Lands For Purposes Of Act; Survey And Map, Signing, Filing; Right Of Entry.
  Before entering, taking or using any lands for the purposes of this act, the directors of the company shall cause a survey and map...
• Section 486.308 Condemnation Proceedings.
  In case said company cannot agree with the owners or occupants of any lands or water, intended to be taken or used as aforesaid,...
• Section 486.309 Stock Deemed Personal Property; Certificates Of Stock, Transfer; Report To Assessing Officer.
  The stock of every such corporation shall be deemed personal property, and certificates of stock shall be issued to each stockholder on the full...
• Section 486.310 Capital Stock; Subscriptions, Calling In; Sale, Procedure, Proceeds; Rights Of Purchaser.
  The directors may call in subscriptions to the capital stock of such corporation, by installment, in such portions as they deem best, by giving...
• Section 486.311 Stockholder's Liability; Recovery Prerequisites; Contribution To Creditor.
  The stockholders of all corporations organized under this act shall be individually liable for any labor or services done or performed for said company,...
• Section 486.312 Contract Between Municipality And Company; Obligations.
  It shall and may be lawful for the municipal authorities of any city, village or town in which any company is or shall be...
• Section 486.313 Stockholders; Annual And Special Meetings.
  There shall be an annual meeting of the stockholders at such time and place as the by-laws of the corporation shall designate, for the...
• Section 486.314 Officers Of Company; Designation, Election, Bonding.
  The officers of such company shall be a president, who also shall be a director, a secretary, a treasurer, and such other officers, agents...
• Section 486.315 Ordinances Of Common Council; Granting Use Of Public Property; Rates Of Compensation.
  Whenever any such company shall have been duly organized, it shall be the duty of the common council of any such city or village...
• Section 486.316 Purchase Of Corporate Rights And Property By Municipality; Arbitration.
  From and after the expiration of 25 years from the time of the organization of such company, the common council of the city, town...
• Section 486.317 Municipality As Stockholder; Issuance Of Bonds, Interest Rate Limit, Tax Levy; Certain Corporations As Stockholders.
  Any such city, town or village may become a stockholder in any such company whenever the common council shall so direct, by resolution duly...
• Section 486.318 Company Fully Organized; Qualification, Powers, Financial Arrangements.
  Any such company shall be deemed to be fully organized whenever half the capital stock named in its articles of association shall have been...

Last modified: October 10, 2016