457.509 Subordinate lodges; erection of building; capital stock, creation, shares. Sec. 9. Any corporation other than a grand lodge formed in pursuance of this act, may erect and own such edifice, building or hall, as it shall deem proper, with convenient rooms for the meetings of lodges of the order, and for that purpose may create a capital stock of not more than 50,000 dollars, to be divided into shares of not more than 100 dollars each. History: 1887, Act 83, Imd. Eff. Apr. 22, 1887 ;-- How. 4577z-6 ;-- CL 1897, 8055 ;-- CL 1915, 10528 ;-- CL 1929, 10733 ;-- CL 1948, 457.509
Michigan Legal Code