Michigan Compiled Laws Act 233 Of 1875 Canal Or Harbor Companies (485.1 - 485.25)

AN ACT to re-enact and amend chapter 84 of the Compiled Laws of 1871, relative to the formation of corporations to construct canals or harbors and improve the same, by adding 2 sections thereto, and by restricting its operations to the upper peninsula.

History: 1875, Act 233, Imd. Eff. May 4, 1875

Compiler's Notes: Chapter 84 of the Compiled Laws of 1871, referred to in this title, derived from Act 137 of 1861. It was subsequently amended by Act 18 of 1862, Act 170 of 1863, Act 34 of 1864, and Act 230 of 1865, and was repealed by Act 43 of 1875.

Section 485.1 Canal Or Harbor Company; Incorporators, Procedure; Articles, Contents.
Any number of persons, not less than 3, may be formed into a corporation for the purpose of constructing a canal or harbor, or...
Section 485.2 Articles; Signing, Filing; Powers Of Company.
Each subscriber to such articles of association shall subscribe thereto his name and place of residence, and the number of shares of stock taken...
Section 485.3 Articles; Filing, Prerequisites; Vote Of Stockholder.
Such articles of agreement shall not be filed in the office of the secretary of state until 5 per cent of the capital subscribed...
Section 485.4 Articles; Certified Copy As Evidence.
A copy of said articles, filed in pursuance of this act, certified by the secretary of state to be a true copy, and of...
Section 485.5 Directors; Number, Election, Term, Vacancy.
The business and property of such company shall be managed by a board of not less than 3, nor more than 7 directors, who...
Section 485.6 Directors; Quorum; Selection Of Officers.
A majority of the directors shall be a board for the transaction of business. At the first meeting after their election, they may elect...
Section 485.7 President And Directors; Powers; Annual Report, Contents.
The president and directors shall have power to make and prescribe such rules and regulations respecting the transfer of the stock, either before its...
Section 485.8 Construction Of Route; Restrictions.
It shall be lawful for such company, their officers, engineers, and agents, to enter upon any lands for the purpose of exploring, surveying, and...
Section 485.9 Real Estate; Power To Hold.
Said corporation shall not, in their corporate capacity, hold, purchase, or deal in any lands other than lands donated to said corporations to aid...
Section 485.10 Condemnation; Procedure; Use Of Property.
Whenever said company shall desire to enter upon, use, or occupy any lands, or condemn any franchises or right to the use of running...
Section 485.11 Tolls And Charges; Establishment, Lien, Evidence.
Any such company shall be authorized to charge, demand, and receive such rates of toll for the use of said canal or harbor, or...
Section 485.12 Injury To Property; Violation Of Regulation; Liability For Damages, Lien.
If any person shall willfully obstruct, or in anywise injure any such canal, harbor, or improvements, or any dock, wharf, or other fixture connected...
Section 485.13 Repair Of Bridges.
Whenever any canal shall cross any highway, the company shall make and keep in good repair such bridges as the board of supervisors of...
Section 485.14 Stockholder's Liability; Recovery Prerequisites; Subrogation; Contribution.
The stockholders of said companies incorporated under this act, shall be jointly and severally liable for all labor performed for such company; but no...
Section 485.15 Avoidance Of Payment Of Toll; Penalty.
Any boat, vessel, raft, or craft which shall willfully pass through said canal or said improvement without paying the toll required, shall be liable...
Section 485.16 Amendment Or Repeal.
The legislature shall, at all times hereafter, have the free right to alter, amend or repeal this act. History: 1875, Act 233, Imd. Eff....
Section 485.17 Taxation.
All corporations formed or existing under this act shall be liable to be assessed for all real and personal estate held by them in...
Section 485.18 Existing Corporation; Organization Under Act, Preference In Subscription.
Any person or private association or corporation in the upper peninsula and Branch and Macomb counties, who have previous to the passage of this...
Section 485.19 Failure To Furnish Cargo Statement; Penalty.
In case the master or clerk of any boat or vessel shall neglect or refuse to furnish the statement as required by section 11...
Section 485.20 Bonds; Issuance, Restrictions.
Any company organized under this act may borrow money, and issue bonds for the payment of the same, for the purpose of providing means...
Section 485.21 Canal Or Improvement, Purchase By County; Procedure; Operation; Sale To United States.
Any county through which any such improved river or stream shall pass, or in which the greater part of any such improvements have been...
Section 485.22 Canal Or Improvement, Purchase By County; Procedure; Submission To Electors; Bonds, Issuance.
The board of supervisors of any such county may at any time, by a majority vote, submit the question of purchasing any such canal,...
Section 485.23 Re-instated Corporations.
The corporations heretofore formed under said chapter 84 in the upper peninsula and in Branch and Macomb counties, are herein re-instated in all their...
Section 485.24 Re-instated Corporations; Formation Of Companies To Purchase And Operate.
Corporations may be formed under this act in the upper peninsula and Branch and Macomb counties for the purpose of operating and further improving...
Section 485.25 Purchasing Corporation; Powers And Duties; Log Interest; Public Rights.
When any such corporation shall have purchased any canal or other improvements, lands, or other property of any such other corporation under the provisions...

Last modified: October 10, 2016