Section 456.209 - Directors; powers. - Michigan Statutes

CREMATION COMPANIES (EXCERPT)
Act 58 of 1915

456.209 Directors; powers.

Sec. 9.

The board of directors shall have the general management of such corporation, and shall have the power: To purchase land for such company or association, but for no other purpose; to levy assessments upon the subscribers to the articles of association, not exceeding the amount severally subscribed by them payable at such times as the directors shall determine, and to enforce the collection thereof either by suit or forfeiture; to maintain and operate a crematorium or columbarium, or both, and to dispose of niches in the aforesaid urn-hall, fix the prices thereof and to guarantee to the owners of niches the perpetual maintenance and care of said columbarium. To invest the moneys received from incinerations or the sale of niches or both, and to prescribe, from time to time, the interest or dividends which shall be paid to holders of the stock of such corporation, subject to the restrictions hereinafter named.

History: 1915, Act 58, Eff. Aug. 24, 1915 ;-- CL 1915, 11185 ;-- CL 1929, 10470 ;-- CL 1948, 456.209