Liable to tax. Subject to laws of other corporations. therewith; and the same and all its personal property may sell, mortgage and dispose of at pleasure. Such real and personal estate shall be subject to taxation the same as other real and personal estate. (3027.) SEC. 3. Corporations formed under this act shall be subject to all general laws of this State relating to corporations, that may be applicable thereto, and the Legislature may amend or repeal this act at any time. SEC. 4. This act shall take immediate effect. CHAPTER CIV. HOSPITALS OR ASYLUMS. Corporations authorized. An Act for the incorporation of hospitals or asylums in cases where valuable grants or emoluments have been made to trustees for such purposes. [Approved March 20, 1863. Laws of 1863, p. 425.] (3028.) SECTION 1. The People of the State of Michigan enact, That in all cases where lands, or any other property, amounting in value to five thousand dollars or upwards, have been or shall hereafter be given, granted, devised, or bequeathed to one or more trustees for the purpose of founding or endowing a hospital or other charitable asylum within this State, for the care or relief of indigent or other sick or infirm persons, and it shall, for the more effective and perfect administration of such trust, be deemed expedient by such trustees to organize themselves as a corporation, then the trustees in whom said lands and other property are for the time Articles of in- being vested, may become incorporated by executing under their hands, and acknowledging before some person in this State authorized to take the acknowledgment of deeds, duplicate articles of corporation. incorporation, one of which shall be filed in the office of the Sec recorded. retary of State, and one recorded in the clerk's office of the county To be filed and or counties in this State, in which the office of such incorporation or association may be located; and upon the execution and acknowl- Body corporate. edgment of such articles, the signers thereof shall become and be a body politic and corporate, for the objects and purposes set forth in said articles; and they, their successors, and associates, shall con- Powers of. tinue to be such body corporate and politic, and may sue and be sued, take, hold, and convey real and personal estate, subject to the limitations hereinafter contained; may adopt a common seal, Seal. and change the same, and may exercise all the powers, and shall be subject to all the responsibilities, by law conferred and imposed. (3029.) SEC. 2. Said articles shall contain and declare: First. The name of such corporation, the city, town, or county in which such hospital or asylum is, or is to be located, and the period for which it is incorporated; Second. The objects of said corporation, which shall be stated with all convenient fullness and certainty; Third. The names of the trustees thereby incorporated; Fourth. The number of persons who shall constitute the permanent board of trustees of such corporation, the mode of the election or appointment of the first board of trustees, the time for which the trustees shall be elected or appointed, and the mode in which their successors shall be elected or appointed; Fifth. Such other officers of the corporation as may be deemed necessary; Sixth. The time of holding the annual meeting; Seventh. There shall also be annexed to such articles a copy of the deed, will, or other instrument by which the original gift, grant, devise, or bequest was made to such trustees. Contents of articles. ees. (3030.) SEC. 3. The affairs of said corporation shall be managed Boards of trustby a board of trustees, not less than three nor more than fifteen in number, who shall be chosen or appointed in such manner as is fixed in the articles of the [in]corporation; such trustees shall hold for Term of office. the term or time in such articles fixed, and until their successors are chosen: Provided, That when the number of trustees and Proviso. the mode of the appointment of their successors is fixed in the deed, will, or other instrument of the original founder, the provisions relating thereto shall govern in said corporation, so far as consistent with the laws of this State. The other officers of said corpora- Officers. tion shall be chosen by the trustees, from their own numbers or otherwise, as the trustees shall determine. A majority of such By-laws. conveyed to corporation. trustees shall form a quorum, and may make by-laws, and alter the same, for the more orderly transaction of their business, and for the regulation of the care or relief to indigent and other sick and Property to be infirm persons. As soon as such corporation shall be duly organized, the individual trustees who hold or possess the lands or other property so given, granted, devised or bequeathed, shall forthwith convey and deliver the same to such corporation by deed or other proper mode of transfer, and said corporation shall thereupon and thereafter hold, possess and enjoy the same to the same extent, and for the same purposes, as designed and declared by the original donor. Corporation etc. (3031.) SEC. 4. Such corporation may, by gift, grant, devise, or may receive by bequest, take, receive, and hold any property, real or personal, but only for the purposes for which it is incorporated: Provided, That said corporation shall not hold any lands except such as shall be necessary for the direct and reasonable use or convenience of its hospital or asylum, for a longer period than ten years. Proviso. Trustees not en sation. (3032.) SEC. 5. No trustees of said corporation shall be entitled titled to compen- to any compensation except under some special employment by the board, or authority expressed in the original deed or instrument of trust. Funds, how used. Proviso.. Property ex empt from taxation. Report of trust ees. lect to report. (3033.) SEC. 6. All the funds of said corporation shall be faithfully and exclusively used for the purposes thereof, as set forth in its articles, and the same shall be wholly used within this State. Said corporation may invest its funds by loan, on mortgage security, or by purchase of any city, county, State, or United States bonds, or by loan on pledge of the same: Provided, That no loan of such funds shall be made to any trustee, officer, or servant of such corporation. (3034.) SEC. 7. The property on which said asylum or institution. building stands, together with said building, shall, while occupied for the objects and purposes thereof, be exempt from taxation. (3035.) SEC. 8. Such corporation, whenever required by the Attorney General or the Legislature, shall make and exhibit a full statement of its affairs, under the oath of one or more of its trustPenalty for neg- ees; and for any neglect so to report when required, each one of its officers, and all of the trustees so neglecting, shall be liable to a penalty of fifty dollars each, to be recovered by action of debt, in the name of the people of the State of Michigan: Provided, That said corporation may report to the Legislature each and every year after the establishment of such asylum or other institution, should they desire so to do. Proviso. Ꮯ Ꮋ Ꭺ Ꮲ Ꭲ Ꭼ Ꭱ Ꮯ Ꮩ . CHARITABLE SOCIETIES. An Act for the incorporation of charitable societies. [Approved February 6, 1855. Laws of 1855, p. 28.] authorized. sociation. (3036.) SECTION 1. The People of the State of Michigan enact, Corporations That any three or more persons, who may desire to become incorporated for any charitable purpose, or for the purpose of erecting monuments within this State to commemorate any persons or events, may execute under their hands, and acknowledge before Articles of assome person within this State, authorized to take the acknowledgments of deeds, one or more duplicate articles of agreement, as hereinafter specified, one copy whereof shall be filed and recorded Where filed. 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 of the county or counties in 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 sign- Body politic. ers thereof, and those who may thereafter become associated with them, shall become a body politic and corporate, for the purpose set forth in said articles.1 Articles of asso ciation, what to (3037.) SEC. 2. The articles of this association shall contain: First. The names of the persons associating in the first instance, contain. and their places of residence; 1 As amended by Act 64 of the Laws of 1864, p. 124, approved and took effect February 6, 1864. Corporations managed by trustees. Second. The name of such corporation, and the place where its office for the transaction of business is located, and the period for which it is incorporated, not exceeding thirty years; Third. The objects for which it is organized, which shall be stated with convenient certainty, and expressly; Fourth. The number of its trustees and regular officers, and the time and place of holding its annual meeting; Fifth. The terms and conditions of membership therein. (3038.) SEC. 3. The affairs of each corporation shall be managed by not less than five nor more than twenty trustees, to be chosen by the members thereof, and to hold office for one year, and until their successors be chosen; and the regular officers thereof, except the treasurer and secretary, shall form a part of said trustees. The Choosing officers officers may be chosen by the trustees or by the members of such corporation, as the articles shall prescribe. The by-laws of such corporation shall be adopted by the trustees, who may change them at pleasure. A majority of the trustees shall be a quorum to transact business.1 By-laws. A quorum. Corporation not to hold real estate. How funds shall not be invested. Amount corporation may take by gift; how invested. Articles of agreement may specify how to invest. (3039.) SEC. 4. No such corporation shall have power to take or hold any real estate except such as may be necessary for any hos pital, asylum, or monument under its control, or for the transaction of its business, for a longer term than ten years. " 2 (3040.) SEC. 5. All the funds received by any such corporation shall be used in the first instance, or shall be invested, and the income thereof used (after paying ensuing expenses), for the exclu sive purpose set forth in the articles of association, and no portion of the funds of such corporation shall be used or contributed towards the erection, completion, or furnishing of any building not owned or used by such corporation. Such corporation may take by gift, purchase, or devise, property to an amount not exceeding one hundred thousand dollars, and it shall be lawful to invest the same upon mortgage, or in or by loan on bonds, or any city, county, State, or United States securities; but no loan shall be made to any trustee or officer of such corporation: Provided, That any such corporation may, in its articles of agreement, specify the kinds of securities in which its funds shall be invested, and that no part of its funds shall be invested in any securities other than those named in its articles, or where the securities shall not be speci 1 As amended by Act 143 of the Laws of 1867, p. 198, approved and took effect March 27, 1967. 2 Vide note to section 1 of this act. |