Michigan § 457.543 - Property; holding, disposition.
Full text of Michigan Michigan Compiled Laws § 457.543 — Property; holding, disposition., with citation guidance and answers to common questions.
§ 457.543. Property; holding, disposition.
Every corporation formed pursuant to the provisions of this act, may take and hold personal and real property, so far as may be necessary for the proper purposes of the organization, not exceeding 50,000 dollars in amount, and convey, dispose of and deal with the same as it may from time to time determine by a 2/3 vote of members present at any regular meeting and voting thereon at any annual meeting or at any special meeting called especially for that purpose.
Frequently Asked Questions About Michigan § 457.543
What does Michigan Compiled Laws § 457.543 cover?
Section 457.543 ("Property; holding, disposition.") 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 § 457.543?
A common citation format is "Michigan Compiled Laws § 457.543" (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 § 457.543 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.