Section 450.525 - Attorney general and legislature; examination. - Michigan Statutes

Revised Statutes of 1846 (EXCERPT)
CORPORATIONS

450.525 Attorney general and legislature; examination.

Sec. 25.

It shall be the duty of the attorney general whenever and as often as he shall be required by the governor, to examine into the affairs and conditions of any bank or banks or other corporations in this state, and report such examination in writing, together with a detailed statement of facts, to the governor, who shall lay the same before the legislature, and for that purpose the said attorney general shall have power to administer all necessary oaths to the directors and officers of any such bank or other corporation and to examine them on oath in relation to the affairs and conditions thereof, and to examine the vaults, books, papers and documents belonging to such bank, or pertaining to its affairs and condition; and the legislature, or either branch thereof shall have full power to examine into the affairs and condition of any bank or other corporation in this state at all times and for that purpose any committee appointed by the legislature or either branch thereof, shall have full power to administer all necessary oaths, to the directors, officers and stockholders of such bank or other corporation, and to examine them on oath in relation to the affairs and condition thereof, and to examine the vaults, safes, books, papers and documents belonging to such corporation or pertaining to its affairs and conditions, and to compel the production of all keys, books, papers, and documents by summary process to be issued on application to any court of record, or any judge thereof, under such rules and regulations as the said court may prescribe.

History: R.S. 1846, Ch. 55 ;-- CL 1857, 2167 ;-- CL 1871, 3452 ;-- How. 4884 ;-- CL 1897, 8551 ;-- CL 1915, 11342 ;-- CL 1929, 10167 ;-- CL 1948, 450.525