Michigan § 450.695 - Libraries; shares, assessment and transfer; holding of property.
Full text of Michigan Michigan Compiled Laws § 450.695 — Libraries; shares, assessment and transfer; holding of property., with citation guidance and answers to common questions.
§ 450.695. Libraries; shares, assessment and transfer; holding of property.
The said proprietors may raise such sums of money by assessment on the shares as they shall judge necessary for the purpose of preserving, enlarging and using the library; and the shares may be transferred according to such regulations as they may prescribe, and such corporation may hold (and may acquire by gift, grant, bequest or devise) real and personal estate to any amount not exceeding (25,000 dollars), in addition to the value of their books; (and may hold in trust property granted, bequeathed or devised as may be prescribed by the grantor or testator; and may be the beneficiaries of trusts created for their benefit.)
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 450.695
What does Michigan Compiled Laws § 450.695 cover?
Section 450.695 ("Libraries; shares, assessment and transfer; holding of property.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 450.695?
A common citation format is "Michigan Compiled Laws § 450.695" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 450.695 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.