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conditioned that if the complainant obtain restitution of said premises in said suit, the said defendant will forth with pay
all the rent due, or to become due the complainant, up to the time said complainant shall obtain possession thereof, together with costs of suit in prosecuting said complaint, and obtaining restitution of said premises, which bond shall be delivered to said complainant, or his agent or attorney; and if the complainant obtain restitution of said premises, he may, at his election, sue and recover on said bond, or bring his action against the defendant, under section twenty-four of this chapter.
Approred January 30, 1869.
( No. 10. ] AN ACT to amend act number two hundred and twenty-seven,
of the session laws of eighteen hundred and sixty-three, entitled "An act to amend sections one, two, four, five, six, and nine, of the revised statutes of eighteen hundred and forty-six, being sections five thousand three huudred and fifty, five thousand three hundred and fifty one, five thousand three hundred and fifty-three, five thousand three buwdred and fifty-four, five thousand three bundred and fifty-five, and five thousand three hundred and fifty-eight, of the compiled laws, touching the limitation of actions relating to real property."
SECTION 1. The People of the State of Michigan enact, That Section section nine, of chapter one hundred and thirty-nine, of the revised statutes of eighteen hundred and forty-six, being section five thougand three hundred and fifty-eight of the compiled laws, as amended by act number two hundred and twentyseven, of the session laws of eighteen hundred and sixty-three, be and hereby is amended so that said section shall read as follows: (5358.) Sec. 9. When the right of action or entry shall have Rights ac
crued beforo accrued before the time when these amendments shall take amendments
becomo law. effect as law, the same shall not be affected by these amendments; but all such actions and rights shall be governed and
determined according to the law under which the right accrued, in respect to the limitations of such actions or right of entry.
Approved January 30, 1869.
[ No. 11. ) AN ACT relating to interest upon installments falling due
upon written contracts. Interest may Section 1. The People of the State of Michigan enact, That be collected on interest when any installment of interest upon any note, bond, mortdue and un. paid.
gage, or other written contract, shall have become due, and the same shall remain unpaid, interest may be computed and collected on any such installment so due and unpaid, from the time at which it became due, at the same rate as specified in any such note, bond, mortgage, or other written contract, not exceeding ten per cent.; and if no rate of interest be specified in such instrument, then at the rate of seven per centum per annum.
Approved February 19, 1869.
[ No. 12.) AN ACT to authorize and encourage the formation of copora
tions to establish rural cemeteries, and provide for the care
and maintenance thereof. Number or SECTION 1. The People of the State of Michigan enact, That corporators.
any number of persons not less than ten, who shall, by articles
of agreement in writing, associate themselves according to the Parpose of provisions of this act, under any name assumed by them, for incorporal
purpose of purchasing land for a cemetery in this state, and for fencing, laying out, improving, maintaining and establishing the same, and who shall comply with sections two and three of this act, shall, with their successors and assigns, constitute a body politic or corporate, under the name assumed by
them in their articles of association: Provided, however, That Proviso. no two corporations shall assume the same name.
Sec. 2. The articles of agreement of every such association Articles must shall be signed by the persons associating in the first instance, acknowl.
edged and and acknowledged before some person authorized by the laws stateof this State to take the acknowledgment of deeds, and shall state
1st. The amount of land which it is proposed to purchase Amount of for such cemetery, and the town and county in which it is purchased,
2d. The amount of capital which it is estimated will be Amount of required to make such purchase, and to fence and improve the capital. grounds, and the number of shares into which the same shall be divided.
3d. The name by which such corporation shall be known. 4th. The number of persons who shall constitute the board Number of of directors, being not less than five, por more than thirteen. 5th. The names of those who shall constitute the first board Names of
directors and of directors, and the name of the first treasurer.
treasurer. 6th. The names of the subscribers to the articles of associa- Names of
subscribers tion, and the number of shares subscribed by each, towards the required capital. 7th. The term of duration of such corporation, which shall Term of
duration not exceed thirty years. Sec. 3. The subscribers to such articles of association shall, Subscribers
each to pay at the time of subscription thereto, severally pay to the treas-24 per conc. urer named therein, at least twenty per cent. of the amount subscribod. subscribed by each, and when the whole amount of capital mentioned in said articles shall be subscribed, and said portion thereof actually paid in, the directors shall cause a copy of Articles Olod
with county their articles of association, together with an affidavit of such clerk. treasurer, that twenty per cent of the amount of capital subscribed has actually been paid in, to be filed in the office of the county clerk of the county in which such association is formed: Provided, That no person shall be permitted to sub- Proviso. scribe to exceed one-tenth of the capital of such association,
and no person shall hold, own, or represent scrip to exceed
one-tenth of the capital thereof. Annual Sec. 4. The annual meeting of every such corporation shall meetinge.
be held on the second Monday of May in each year, unless
some other day shall be fixed by the by-laws thereof, and in Election of such case, it shall be held upon the day so fixed. Such meeting directors. shall elect a board of directors, who shall serve for the ensuing
year, and until their successors shall be chosen, and transact
such other business, relating to the business of the corporation, Owners of as may properly come before it. At such meeting the owners scrip allowed one vote for of scrip, hereinafter provided for, shall have the right to vote, each $100 owned. either in person or by proxy, in proportion to the amount of
scrip held by them respectively, each owner thereof being Special entitled to one vote for each hundred dollars of scrip. Special meetings
meetings of any such corporation may be provided for by the by-laws thereof, and shall be held when called in accordance
with such provision. Choice of Sec. 5. It shall be the duty of said board of directors to officers.
choose from their own number a president and vice president, and also to elect suitable persons as treasurer and secretary of such corporation, and from time to time to appoint a superintendent and such other subordinate officers as may be required
by the by-laws. Powers of Sec. 6. The board of directors shall have the general mandirectors, agement of such corporation, and shall have the powerTo purchase To purchase land for the use of such association, but for no
other purpose, and not exceeding in all three hundred acres; Levy assess- To levy assessments upon the subscribers to the articles of mente.
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; Cause plans To cause to be prepared a plan or design for laying out such to be made.
lands so purchased by them for cemetery purposes; and when such plan or design is adopted by them, it shall be their duty to cause the same to be recorded in a book to be kept by them
for that purpose; and it shall not thereafter be altered or modified, unless by a two-thirds vote of all the directors, after a special notice of such proposed change shall have been given, and after said proposition shall have been submitted in writing to the board at a meeting thereof, to be held prior to the one at which the vote upon such proposed change shall be taken: Provided, That no such alteration shall be made which shall interfere with rights of burial already granted; To dispose of rights of burial, fix the prices thereof, make Dispose of
rights of conditions in relation to burials within the cemetery grounds, burial. and guarantee to grantees of burial rights the care and preservation of the grounds;
To establish such rules and regulations for the control and Establish management of the grounds, and all matters and things incident thereto, as they shall deem for the best interests of the corporation;
To sell any part or portion of the lands owned by such cor- Dispose or poration, in case the same shall not be occupied or required for burial purposes, or for the uses of such cemetery;
To invest the moneys received from the sale of burial rights, Investand to prescribe, from time to time, the interest or dividends celved. which shall be paid to holders of the scrip of such corporation, subject to the restrictions hereinafter named.
Sec. 7. It shall be the duty of such board of directors to further dupreserve good order in the grounds of such cemetery; to pro- or directors, vide for the laying out and embellishing of the same, and to see that they are well kept and in good condition; When the payments for land purchased shall have been fully to apply,
two-thirds or made, to reserve at least two-thirds of all the receipts of such receipts for corporation which shall be derived from the sale of burial mente rights, after the payment of the current expenses, for interest, improvements and embellishing, until the aggregate amount thereof shall, in the opinion of said board, be sufficient to constitue a permanent fund, which, when invested, shall produce an income large enough to meet the expense of keeping the grounds of such cometery perpetually in good condition, after
ties of board