Section 449.314 - Existing associations; articles, filing; penalty; franchise fee. - Michigan Statutes

PARTNERSHIP ASSOCIATIONS (EXCERPT)
Act 191 of 1877

449.314 Existing associations; articles, filing; penalty; franchise fee.

Sec. 14.

Every partnership association heretofore organized, is required to file a copy of its statement in writing or articles of association, verified by the oath of the secretary of the board of managers or certified by the register of deeds of the county in which said statement or articles were recorded, as a full and true copy of the same with its date of record together with all amendments to such statement or articles if any have been made and recorded, in the office of the secretary of state of this state on or before the first day of January 1904. The officers and managers of every such partnership association failing to file such copy of its statement in writing or articles within the time herein prescribed, shall each be subject to a penalty of 25 dollars, and in addition thereto the sum of 5 dollars for each and every secular day after January first, 1904. Such penalty shall be for the same use, and shall be collected in the same manner, by the attorney general, as prescribed in section 13 of this act: Provided, That partnership associations already organized shall not be required to pay a franchise fee upon their recording articles of association under this act.

History: Add. 1903, Act 244, Imd. Eff. June 18, 1903 ;-- CL 1915, 7963 ;-- CL 1929, 9922 ;-- CL 1948, 449.314