| 1 | 1 | | HOUSE BILL NO. 4794 A bill to amend 1929 PA 137, entitled "An act to authorize the formation of corporations by summer resort owners; to authorize the purchase, improvement, sale, and lease of lands; to authorize the exercise of certain police powers over the lands owned by said corporation and within its jurisdiction; to impose certain duties on the department of commerce; and to provide penalties for the violation of by-laws established under police powers," by amending section 8 (MCL 455.208). the people of the state of michigan enact: Sec. 8. (1) The A corporation organized under this act shall hold an annual meeting of such association shall be held in its members in its own county between June first 1 and August thirty-first 31 of each year, at such a time and place as may be fixed by the board of trustees. and such meeting may adjourn The board may adjourn an annual meeting from day to day as may be necessary for the transaction of its business. (2) At each annual meeting, there shall be elected such the members shall elect a sufficient number of trustees as shall be necessary to fill the places of trustees whose terms of office then expire, have expired, and all vacancies on such the board. Such The election shall must be conducted by ballot and choice of trustees shall be by the election of a trustee requires a majority of all votes cast. Members may vote in person or by proxy filed with the secretary. Each member shall be is entitled to 1 vote. Husbands and wives, owning Spouses who own property by entireties , shall are each be entitled to 1 vote. (3) Membership shall terminate upon the alienation of in a corporation organized under this act is terminated at the time the member sells, transfers, or otherwise disposes of the property of a the member. (4) At each annual meeting the trustees shall make a report, in writing, of the management of the business of the corporation, the condition of its property, its assets and liabilities, and upon such any other matters as may be proper and of general interest to the members. Enacting section 1. This amendatory act does not take effect unless Senate Joint Resolution ____ or House Joint Resolution F (request no. 00367'23) of the 102nd Legislature becomes a part of the state constitution of 1963 as provided in section 1 of article XII of the state constitution of 1963. |
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| 25 | 25 | | HOUSE BILL NO. 4794 |
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| 29 | 29 | | A bill to amend 1929 PA 137, entitled |
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| 31 | 31 | | "An act to authorize the formation of corporations by summer resort owners; to authorize the purchase, improvement, sale, and lease of lands; to authorize the exercise of certain police powers over the lands owned by said corporation and within its jurisdiction; to impose certain duties on the department of commerce; and to provide penalties for the violation of by-laws established under police powers," |
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| 33 | 33 | | by amending section 8 (MCL 455.208). |
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| 35 | 35 | | the people of the state of michigan enact: |
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| 37 | 37 | | Sec. 8. (1) The A corporation organized under this act shall hold an annual meeting of such association shall be held in its members in its own county between June first 1 and August thirty-first 31 of each year, at such a time and place as may be fixed by the board of trustees. and such meeting may adjourn The board may adjourn an annual meeting from day to day as may be necessary for the transaction of its business. |
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| 39 | 39 | | (2) At each annual meeting, there shall be elected such the members shall elect a sufficient number of trustees as shall be necessary to fill the places of trustees whose terms of office then expire, have expired, and all vacancies on such the board. Such The election shall must be conducted by ballot and choice of trustees shall be by the election of a trustee requires a majority of all votes cast. Members may vote in person or by proxy filed with the secretary. Each member shall be is entitled to 1 vote. Husbands and wives, owning Spouses who own property by entireties , shall are each be entitled to 1 vote. |
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| 41 | 41 | | (3) Membership shall terminate upon the alienation of in a corporation organized under this act is terminated at the time the member sells, transfers, or otherwise disposes of the property of a the member. |
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| 43 | 43 | | (4) At each annual meeting the trustees shall make a report, in writing, of the management of the business of the corporation, the condition of its property, its assets and liabilities, and upon such any other matters as may be proper and of general interest to the members. |
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| 45 | 45 | | Enacting section 1. This amendatory act does not take effect unless Senate Joint Resolution ____ or House Joint Resolution F (request no. 00367'23) of the 102nd Legislature becomes a part of the state constitution of 1963 as provided in section 1 of article XII of the state constitution of 1963. |
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