Sec. 5.
Such corporation may, by its corporate name, aforesaid, receive donations in money, and may take and hold real estate and personal property by gift, grant, devise, bequest or otherwise, and sell and dispose of the same and use the proceeds thereof for the purpose of disseminating the gospel by multiplying and circulating copies of the holy scriptures, publishing a religious newspaper or periodical, aiding state, home and foreign missions, promoting christian and ministerial education, Sabbath school instruction, and the circulation of religious tracts, and may sue and be sued, plead and be impleaded, contract and be contracted with, and may have a common seal which they may alter or renew at pleasure. That whenever any corporation heretofore organized or hereafter to be organized under the provisions of chapter 175 of Howell's annotated statutes, or under or by virtue of Act No. 54 of the Public Acts of 1899, entitled "An act to provide for the incorporation of Baptist churches," shall be dissolved either by the death of all its members, or by the loss of so many of them, that it is thereby rendered unable to do any corporate act, or restore itself by proceeding to elect trustees as provided in said act, this corporation shall be held and deemed to be the legal successor of such corporation, and shall succeed to and be vested with all the property rights which were in such corporation at the time it was dissolved. And that whenever the board of managers of this corporation shall have reason to believe that any corporation organized under the provisions of said chapter 175, or said Act No. 54 of the Public Acts of 1899 shall have become dissolved in the manner above specified, such executive board shall be authorized to file a petition, as near as may be, according to the provisions of sections 1 to 8 of chapter 300 of the Revised Statutes of 1897, for a decree determining the dissolution of such corporation; that thereupon proceedings shall be had under such petition, as near as may be in accordance with sections 1 to 8 of the last said chapter. And upon the coming in of the report of the matter if it shall appear that such corporation has been so dissolved, a decree shall be entered declaring and adjudging such corporation to have been dissolved, and decreeing the said Baptist Convention of the state of Michigan to be the legal successor of such corporation, and to have succeeded to and be vested with all the property rights which were in such corporation at the time it was dissolved, which decree when made may be recorded and have the same force and effect as is provided in section 465 of the compiled laws of 1897.
History: 1842, Act 42, Eff. Mar. 19, 1842 ;-- Am. 1893, Act 72, Eff. Aug. 28, 1893 ;-- Am. 1905, Act 60, Imd. Eff. Apr. 19, 1905 ;-- CL 1929, 10917 ;-- CL 1948, 458.155
Compiler's Notes: Chapter 175, referred to in this section, consisted of Act 225 of 1897, which was repealed by Act 209 of 1897. For provisions of Act 54 of 1899, referred to in this section, see MCL 458.101 et seq. Sections 1 to 8 of chapter 300, and section 465 of the compiled laws of 1897, referred to in this section, were superseded by Act 314 of 1915, which was subsequently repealed by Act 236 of 1961.