457.36 Erection of buildings; capital stock, creation, shares. Sec. 6. Any corporations formed in pursuance of this act may erect and own such suitable edifices, buildings, or halls as such corporations shall deem necessary, with convenient rooms for the meeting of said society, and for that purpose may create a capital stock of not more than 60,000 dollars, to be divided into shares of not more than 25 dollars each. History: 1875, Act 53, Eff. Aug. 3, 1875 ;-- How. 4518 ;-- CL 1897, 7823 ;-- CL 1915, 10259 ;-- CL 1929, 10549 ;-- CL 1948, 457.36
Michigan Legal Code