tuity any land or other property in trust for any purpose not inconsistent with the objects and purposes of the University. Approved March 26, 1895. [ No. 37. ] AN ACT to amend sections one, four, five and eight of act number two hundred and seventy-five of the public acts of eighteen hundred eighty-nine, relating to the incorporation of mutual provident associations. amended. SECTION 1. The People of the State of Michigan enact, Sections That sections one, four, five and eight of act number two hundred seventy-five of the public acts of eighteen hundred eighty-nine, relating to the incorporation of mutual provident associations, be and the same are hereby amended so as to read as follows: incorporate for SECTION 1. That any number of persons not less than Persons may ten, being desirous of becoming incorporated for the pur- mutual aid in pose of mutual aid, and of raising a fund or fund for certain cases, their mutual benefit, to be applied in the following manner: First, To provide a weekly allowance for members out of employment; Second, To provide a weekly allowance for members totally incapacitated from following their employment, by accident, or by physical or mental disease, except where such accident or disease shall have been caused by the misconduct or willful act of the member; Third, To provide medical attendance, medicines, and care of members, or any of their family during their illness, and the burial of such member or any of his or her family in case of death; Fourth, To afford assistance to members or of any of their family, in special cases of distress; Fifth, To provide annuities to members or those of their immediate family; articles of May execute under their hands and acknowledge before May execute some person authorized to take acknowledgment of deeds, agreement. one or more duplicate articles of agreement as hereinafter specified, one copy of which shall be filed and recorded in the office of the Secretary of State, and a record shall be made of such articles, or of a certified copy thereof, in the clerk's office in the county of this State in which the office of such association for the transaction of business may be located; and upon the execution and acknowledgment of such articles, the signers thereof and those who may thereafter become associated with them shall become a body corporate for the purpose set forth in said articles. Said How articles may be amended. articles may be amended or altered in the same manner as is provided for corporations generally under the laws of this State. How funds to be, SEC. 4. The funds of such association shall be used in invested or used, the first instance or shall be invested and the income thereof used, for the purposes set forth in the articles of association, and no portion of its funds shall in any case be otherwise applied, except only for the payment of necessary expenses incident to the management of the affairs of Amount of prop- said association. Such corporation may accumulate, or take erty may accu- by gift, purchase or devise, property to any amount not exceeding five hundred thousand dollars, and it shall be lawful to invest the same upon mortgage or by loans, or in bonds of any incorporated village, city, organized county, state, or of the United States, but no loan shall be made to any trustee or officers of such association, and said property shall not be exempt from taxation as the property of benevolent or charitable institutions. mulate. How loans shall be made. Members have power to adopt by-laws, Members may members. SEC. 5. The members of such association shall have the power to adopt by-laws governing said association, and to prescribe the terms, rules and regulations upon which members shall be admitted and continue entitled to the benefits provided for in the articles of incoporation thereof; and every member shall be deemed to have assented to such terms and conditions by the act of accepting membership. SEC. 8. The members by a four-fifths vote, at any regadmit honorary ular meeting, may admit any person to be an honorary member of the association, but no honorary member shall be entitled to receive any benefit from the association. This act is ordered to take immediate effect. Approved March 26, 1895. To prevent the hunting or kill ing of Mongolian and English pheasants until AN ACT to prevent the killing, hunting or molesting in any way of Mongolian pheasants or English pheasants for a period of five years, and to regulate the time for hunting, and for selling or offering for sale the same after that period. SECTION 1. The People of the State of Michigan enact, That no person or persons shall pursue, hunt or kill, or attempt to pursue, hunt or kill or molest, in any manner whatever, any Mongolian pheasants or English pheasants until the first day of November, nineteen hundred, and then only from the first day of November to the fifteenth day of December, inclusive, in each year. prohibited. SEC. 2. No person, firm or corporation, shall for a period The sale and of ten years from and after the passage of this act, sell transportation or attempt to sell, or expose for sale, or ship or transport out of this State, or attempt to ship or transport out of this State, or have in possession for the purpose of shipping or transporting outside of this State, any Mongolian pheasants or English pheasants. misdemeanor. SEC. 3. Any person or persons violating any of the pro- Violation a visions of this act shall be guilty of a misdemeanor, and upon conviction thereof shall be punished by a fine of not Penalty. less than ten dollars nor more than fifty dollars, together with the costs of prosecution, and in default of the payment of the same shall be imprisoned in the county jail for a period not exceeding thirty days, or both such fine and imprisonment in the discretion of the court. SEC. 4. All acts or parts of acts in conflict with the Repealing provisions of this act are hereby repealed. This act is ordered to take immediate effect. clause. AN ACT to amend sections one to eight inclusive and to repeal sections nine to twenty-eight inclusive of an act entitled "An act for the winding up of mining and manufacturing corporations whose charters have expired, being act number two hundred sixty-two of the laws of eighteen hundred eighty-nine, approved July fifth, eighteen hundred eighty-nine, as amended by act number one hundred thirty-seven of the laws of eighteen hundred ninety-one, approved June sixteenth, eighteen hundred ninety-one, and to substitute in the place of said repealed sections other sections to be numbered nine to twentytwo. amended. SECTION 1. The People of the State of Michigan enact, Sections That sections one to eight inclusive of an act entitled "An act for the winding up of mining and manufacturing corporations whose charters have expired," being act number two hundred sixty-two of the laws of eighteen hundred eighty-nine, approved July fifth, eighteen hundred eighty-nine, as amended by act number one hundred thirtyseven of the laws of eighteen hundred ninety-one, approved June sixteenth, eighteen hundred ninety-one, be amended so as to read as follows; and that sections nine to twenty-Sections eight inclusive of said act be and the same are hereby repealed; and that sections nine to twenty-two inclusive of this act be substituted for said sections nine to twentyeight inclusive repealed. repealed How mining and manufacturing companies may wind up their affairs. Proviso as to reorganization. Who may file bill in chancery. What bill may state. Claims. Statement of assets. Statement of capital stock. Proviso. Statement of SECTION 1. Any corporation heretofore, or hereafter to be organized under the laws of this State for the purpose of carrying on the business of mining, smelting or manufacturing under general acts of the legislature authorizing such organization, whose term of existence as fixed by its articles of association or organization and whose further term for winding up its business allowed by the laws of this State has expired or shall expire (no other valid proceedings having been completed to wind up its corporate affairs) may be wound up and its assets disposed of and distributed pursuant to the provisions of this act: Provided, That nothing in this act contained shall be construed to prevent the reorganization, or the extension or the renewal of the corporate term, on the part of corporations authorized by law so to act, nor to affect, or impair the organization, rights or property of any de facto corporation actively carrying on its proper business. SEC. 2. Any stockholder (whether his title to the stock be legal, equitable, absolute or in trust) in such corporation, or any creditor of such corporation whose demand is in full force and is not barred by any statute of limitations, may file a bill in the circuit court in chancery of any county of this State in which any of the real or personal property of such corporation may be situated, for the purpose of winding up the affairs of such corporation, and disposing of and distributing its property among the persons entitled thereto, which bill shall set forth in substance: First, The nature of complainant's interest in the property, the date of organization of the corporation, its term of corporate existence, and a copy of its articles of association if the same be on file or of record in the office of the Secretary of State or county clerk; Second, A statement of the assets, real and personal, belonging either in law or equity to such corporation so far as is known to complainant; Third, A statement of the amount of capital stock, and of the amount thereof paid in if known, together with the names of stockholders, their residence and the number of shares owned by them as shown in the last report of the officers of the corporation on file in the office of the Secretary of State or county clerk, if any such report has been filed and can be found therein, and if there be no such report on file, then the foregoing facts shall be set forth as, and in so far as they may appear by the articles of association or organization on file in the office of the Secretary of State, or county clerk if any such there be: Provided, That if the stock books of the corporation are accessible to complainant, he shall also state the names of the stockholders, their place of residence and the number of shares held by each in so far as in such books they appear; Fourth, A statement of all incumbrances upon any of the incumbrances. property of the corporation, together with all adverse claims upon the same, with the names and residences of the persons holding or asserting the same, so far as known to complainant; debts. Fifth, A statement of the debts of the corporation, if Statement of any, the names and residence of all its creditors, the nature of their demands and the consideration of any such indebtedness so far as known to complainant; unknown bill Sixth, If the creditors or owners of the stock of such If creditors are corporation are, or any of them are unknown to complain- to so state. ant, the bill shall set forth that fact; and the bill shall aver that it is filed, not only on behalf of complainant but also of all other persons interested in the property of the corporation whether as stockholders, creditors or otherwise, who may choose to come in as parties complainant and share the expense of the proceeding; Seventh, Such bill shall pray that the affairs of the cor- Prayer of bill. poration be wound up and its assets disposed of and distributed, and may pray for the appointment of a receiver of its property, and may contain any other appropriate averments of fact, and pray for any other appropriate relief. by complainant. SEC. 3. Such bill shall be verified by the complainant, Bill to be verified or by some one in his behalf substantially in the manner required by rule number eight of the chancery rules. made defendant SEC. 4. Such corporation shall be made a party defendant Corporation by its corporate name; all persons claiming any encum- by corporate brances upon the property thereof, may be parties defendant. name. It shall not be necessary to make any stockholder or owner of the stock or any part thereof, or creditor of such corporation, a party defendant. stock to be ownership. SEC. 5. The possession of a certificate of stock purport- Certificate of ing to represent a part of the stock of such corporation, prima facie running to the holder or assigned to him, or assigned in proof of blank, shall, prima facie, be proof of ownership thereof, and entitle such holders to prosecute such proceedings, or to defend (as hereinafter provided) the same or to receive dividends. poenas shall issue. SEC. 6. Upon the filing of such bill a subpoena shall To whom subissue to all persons who are made defendants by name in said bill in the same manner as in ordinary chancery cases, and the court, or judge thereof, may make an order for the appearance and answer of such corporation, its stockholders and creditors, at a future day therein to be specified, not less than three months from the date of the order. Such order shall, among other things, set forth the gen- order to deeral nature and object of the proceeding, describe the scribe property. property to be affected by it, with a particular description of all the real estate, and shall give notice that the bill of complaint will be taken as confessed against said corporation and against all its creditors and stockholders who shall not within the time therein limited, appear and contest the same. SEC. 7. Such order shall be published within twenty Order to be days after it shall have been made, once in each week for published. |