Section 473.63 - Consolidation agreement; ratification by stockholders. - Michigan Statutes

CONSOLIDATION OF GAS LIGHT, CONSOLIDATED, AND FOREIGN COMPANIES (EXCERPT)
Act 54 of 1903

473.63 Consolidation agreement; ratification by stockholders.

Sec. 3.

Such agreement shall not be deemed to be the agreement of such consolidating corporations until it shall have been ratified either by the vote of at least 3/4 of the capital stock of each of such corporations at a separate meeting of the stockholders of such corporation, held pursuant to a notice of the secretary thereof, stating the objects and purposes of such meeting, and which shall have been published at least once in each week for 2 successive weeks prior to such meeting, in some newspaper printed in the English language and published at the county seat of the county in this or in any other state in which such corporation has its principal place of business; or by the consent in writing to such agreement signed and acknowledged by all of the stockholders of any such corporation.

History: 1903, Act 54, Imd. Eff. Apr. 23, 1903 ;-- CL 1915, 8575 ;-- CL 1929, 11335 ;-- CL 1948, 473.63