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PUBLIC ACTS, 1899.

[No. 1.]

AN ACT to amend section two of an act entitled "An act to provide for the incorporation of associations for the purpose of constructing, owning, controlling and acquiring by lease buildings for exposition and exhibition purposes," approved February twentieth, eighteen hundred eighty-nine, as subsequently amended, by amending the seventh subdivision of section two, and by adding a new subdivision to section two, to stand as subdivision eighth, and to add two new sections to said act to stand as sections thirteen and fourteen.

The People of the State of Michigan enact:

SECTION 1. That section two of the act entitled "An act to Section provide for the incorporation of associations for the purpose of amended. constructing, owning, controlling and acquiring by lease buildings for exposition and exhibition purposes," approved February twentieth, eighteen hundred eighty-nine, be amended to read as hereinafter set forth; and that there shall be added to said act two new sections to stand as sections thirteen and fourteen, to read as hereinafter set forth:

sociation,

SEC. 2. Such persons shall, under their hands and seals, Articles of asmake and subscribe articles of association, which shall be duly what to state. acknowledged, and shall state:

First, The name of such corporation;

Second, Distinctly the purpose for which the corporation is

formed:

Third, The amount of capital stock and the number of shares thereof;

Fourth, The names of the stockholders, their respective resi dences, and the number of shares held by each;

Fifth, The place in this State where the office for the transaction of business shall be located;

Sixth, The term of its existence, which shall not exceed thirty years;

Seventh, The number of directors, which shall not be less than five, and the names of those who shall be directors for the first year;

Eighth, The amount of capital stock actually subscribed at the date of the articles, which shall not be less than ten per cent.

SEC. 13. It shall not be necessary for the original corporat- Subscription of ors to subscribe for the entire capital stock, but the portion stock. not subscribed for may be disposed of at any time afterwards

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