Sec. 3.
Upon complying with the provisions of the last preceding section, such company shall be a body corporate by the name designated in said certificate, and as such shall be capable of suing and being sued in all courts, and may have a common seal, may elect in such manner as hereinafter provided all necessary officers, and determine their duties and make, from time to time, such by-laws, not inconsistent with the constitution and laws of this state, as a majority of the stockholders shall direct.
History: 1887, Act 91, Imd. Eff. Apr. 26, 1887 ;-- How. 3873c ;-- CL 1897, 6752 ;-- CL 1915, 8852 ;-- CL 1929, 11787 ;-- CL 1948, 485.203