Sec. 5. Every such corporation shall have full power and authority to provide by its by-laws for the issuing of certificates or shares of stock and for the manner in which the same shall be held and represented.
Mich. Comp. Laws § 457.275
Powers of corporation; issuance of stock
1909, Act 35, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.