454.53 Trades unions; new corporation; vesting of rights; recovery. Sec. 3. All moneys, property or rights in action, equitably belonging to any association at the time the same may or shall become incorporated under the provisions of this act, shall vest in the corporation so formed, and may be recovered by such corporation in an action in assumpsit or on the case, from any person unlawfully withholding the same. History: 1869, Act 167, Imd. Eff. Apr. 5, 1869 ;-- CL 1871, 2818 ;-- How. 3947 ;-- CL 1897, 7449 ;-- CL 1915, 9821 ;-- CL 1929, 10275 ;-- CL 1948, 454.53
Michigan Legal Code