486.303 Corporate power to hold property. Sec. 3. Every such corporation shall, by their name, have power to acquire and hold all such real and personal estate as shall be necessary for carrying on the business of said corporation. History: 1869, Act 113, Imd. Eff. Apr. 3, 1869 ;-- CL 1871, 3357 ;-- How. 3112 ;-- CL 1897, 8502 ;-- CL 1915, 11284 ;-- CL 1929, 11877 ;-- CL 1948, 486.303
Michigan Legal Code