Proviso. Notice to appellee. Proviso. Further proviso. Time granted for perfecting appeal. Bond. In case of foreclosure of Provided, however, That in no event shall such damages be awarded the appellee in said cause under such a bond in a greater amount than the amount of the deficiency reported by the circuit court commissioner on the final sale of said premises, if the order of sale be affirmed by the supreme court. Notice of the application for the approval of such bond shall be given to the appellee or appellees as on other motions, which notice shall contain the penalty and the names of the sureties of the proposed bond, and upon the hearing of said application such appellee or appellees shall be heard as to the sufficiency of the penalty named in and the responsibility of the sureties proposed to such bond: Provided, That in case such bond be approved by a circuit court commissioner, the circuit court in which such decree or final order was rendered or the judge of such court at chambers may on motion order an additional bond and fix the penalty therein and approve the sureties thereto: Provided further, That the supreme court or any justice thereof may on special motion and proper showing after such appeal has been perfected, order an additional bond and fix the penalty thereof and approve the sureties thereto. SEC. 6. No stay of proceedings upon any final order or decree rendered in any circuit court in chancery shall hereafter be granted or allowed for the purpose of settling a case therein and taking and perfecting an appeal therefrom, for a longer period than forty days from the entry of such decree or order, unless the party applying for such stay, if a decree shall have been rendered against him, shall execute to the adverse party a bond with sufficient surety or sureties in such sum as the circuit judge before whom the case was tried shall designate, conditioned for the performance and satisfaction of such decree or final order if the same be not set aside or reversed, and that if an appeal be taken from such decree or order, the appellant shall prosecute such appeal to effect, and shall perform and satisfy such decree as shall be rendered against him thereon. When the appeal is taken mortgage, etc. from a decree of foreclosure of a mortgage or land contract, the further condition of the bond shall be to pay to the appellee the damages which may result to the appellee from the stay of proceedings, in which damages the appellant shall be held to have contemplated the fair rental value of the premises affected, which damages in the case of foreclosure of land contract shall be computed as starting within six weeks from the date of the decree which may be appealed from, and in the foreclosure of mortgages, as starting seven months and two weeks from the date of said decree: Provided, however, That in no event shall such damages be awarded the appellee in said cause under such a bond in a greater amount than the amount of the deficiency reported by the circuit court commissioner on the final sale of said premises if the order of sale be affirmed by the supreme court. Notice of the time and place when such bond will be presented to the circuit Proviso. judge for approval shall be served upon the adverse party as on other motions: Provided, That in case the party applying Proviso. for such stay of proceedings shall be unable to give such bond by reason of poverty, the judge may upon due proof of inability for such reason grant such stay without requiring such bond, for such reasonable time as the judge may deter mine: Provided further, That no other or further bond shall Further be required to stay proceedings upon any appeal from such decree or final order by or on behalf of the party filing such bond. Approved April 25, 1911. proviso. [No. 161.] AN ACT to provide for the formation of corporations with power to acquire, control, own, maintain, improve and convey property for parks, playgrounds, drives and boulevards, and hold the same and the proceeds thereof in trust for municipalities and take private property therefor. The People of the State of Michigan enact: SECTION 1. Any number of persons, not less than five, who Number to shall desire to form a corporation for the purpose of ac incorporate. quiring, owning, controlling, maintaining and improving lands for the purposes of parks, playgrounds, drives and boulevards, or any one or more of such purposes, and holding the same in trust for any one or more municipal corporations of this State, may, by articles of agreement in writing under their hands and seals, associate for such purposes under a name to be assumed by them in their articles of association: Provided, That no two corporations shall assume the same Proviso. name. association. SEC. 2. Such articles of association shall be signed by the Articles of persons associating in the first instance, and be duly acknowledged before some officer authorized by the laws of this State to take acknowledgment of deeds, and shall set forth: (1) The name by which the corporation shall be known in law; (2) The purpose or purposes for which the corporation is formed; (3) The city, village or township where the office of the corporation shall be located; (4) The municipality or municipalities for which the corporation is to hold property in trust; (5) The names of those incorporating and their respective residences; (6) The number of directors of the corporation, Where recorded. Powers of association. Hold property, etc. Stock, directors, etc. Membership. Powers, jurisdiction, etc. SEC. 3. The articles of association shall be recorded in the office of the Secretary of State, and in the office of the county clerk of the county where the office of such corporation is located. SEC. 4. Upon the recording of such articles of association the persons who have signed and acknowledged the same, their associates and successors, shall thereupon become a body politic and corporate and shall have power: (1) To sue and be sued; (2) To appoint and employ such officers, managers and agents as the affairs of the corporation may require; (3) To make rules and by-laws for the regulation and management of its affairs, and alter and repeal the same; (4) To acquire, hold, sell and convey all real and personal property suitable or necessary for the transaction of the business of the corporation, and to do all things in relation thereto in the same manner and to the same extent as a natural person. SEC. 5. The corporation shall not have any shares of stock or be for pecuniary profit. It shall have not less than five directors to be chosen annually from and by the members at the time and place fixed by the by-laws, they to hold office for one year and until their successors are elected. The directors shall manage the affairs of the corporation. SEC. 6. There shall be two classes of members, life and annual. Any person may become a life member by paying to the corporation one hundred dollars or more in cash, or donating property or services of that value, which the corporation is willing to accept. Any person over twenty-one years of age may become an annual member by the payment of one dollar or more; his membership to terminate if he fails to pay dues for any year of at least one dollar before the election of directors for the ensuing year. SEC. 7. Corporations organized under this act shall have power to govern, manage, control, lay out and improve parks, playgrounds, boulevards and pleasure drives over which their powers and jurisdiction extend, and shall have the right to purchase and by voluntary grants, bequests and donations to receive, take, hold and use all such lands and other property as may be necessary for carrying out its purposes, and if the corporation shall at any time be unable to make a reasonable agreement with the owners of land needed as herein provided for the purchase thereof, or with any railroad company as to crossing its railroad, or with any municipal corporation as to crossing or changing highways, streets or streams, then in all such cases upon the vote of its board of directors, such corporation shall have the power to take such property, within the limits of the State constitution, as it may require in carrying out its purposes, and may bring suit therefor in any court of competent jurisdiction, and the laws of Michigan providing for the condemnation of lands for public use shall govern and be the rule of procedure so far as the same may be practicable and applicable thereto. SEC. 8. Any municipal corporation, by vote of its govern- Transfer in ing body, may transfer to any such corporation in trust as trust. herein before provided, the management and control of any real property held by it, for the purpose of laying out, maintaining or carrying on parks, playgrounds, boulevards or pleasure drives, and may by like vote revoke the said transfer to such corporation and re-vest the management and control of said property in its own officers, at any time it shall be for the public benefit so to do. SEC. 9. It shall be lawful for any such municipal corpora- Appropriate tion to appropriate, by a vote of its common council, or other money. governing body, to any such corporation, moneys for the uses and purposes of such corporation. SEC. 10. All lands acquired by any corporation organized Lands acquired, use under this act or subject to its control and management shall of, etc. be held in trust as aforesaid for public parks, playgrounds, boulevards and pleasure drives for the recreation, health, welfare and benefit of the public and shall be free to all persons, subject to such necessary and reasonable rules and regulations as shall, from time to time, be adopted for the wellordering and government thereof. And all such lands and Tax exemppersonal property so held in trust for such purposes shall be exempt from taxation. tion. appoint SEC. 11. If any corporation organized under this act shall Court may at any time fail, from any cause, to perform the duties of trustees. trustee as herein provided, and by reason of such failure injury may result to any of the drives, parks, playgrounds, boulevards or other property held by such corporation as trustee, or shall make unreasonable rules and regulations regarding the same, or do other acts to the permanent injury of the public, then upon petition to the circuit court in chancery of the county in which said corporation shall be located of any five citizens and freeholders residing within said county, said court may, upon notice to such corporation, appoint a day for hearing said petition, and if upon such hearing it shall appear that damage has resulted to, or is likely to result to, the public or to any of the property held by such corporation, said court may appoint such number of trustees ad interim as shall be deemed necessary to protect the interests of the public in said trust, until such time as the disability of said corporation as trustee shall have been removed. property, etc. SEC. 12. If any such corporation fail at any time to have Title of members and no trustees ad interim shall have been appointed, then until such time as the disability of such corporation as trustee shall have been removed, the title to the property thus held in trust shall vest in the municipality or municipalities for which the corporation has held the same in trust. Suits, etc. SEC. 13. In all proceedings of suits that may arise or be brought in any of the courts of this State touching or concerning corporations under this act, all other acts or parts of acts inconsistent herewith shall be interpreted and construed in such manner as to give full force and effect to all the provisions of this act and to all the rights and privileges hereby granted. Approved April 25, 1911. Section amended. Executor may sell real estate. Estate, when may be sold. [No. 162.] AN ACT to amend section one of act number two hundred nine of the public acts of nineteen hundred nine, entitled "An act to provide for the sale of real estate or any interest therein, under license of the probate court, by ex ecutors, administrators and guardians." The People of the State of Michigan cnact: SECTION 1. Section one of act number two hundred nine of the public acts of nineteen hundred nine, entitled "An act to provide for the sale of real estate or any interest therein, under license of the probate court, by executors, administrators and guardians," is hereby amended to read as follows: SEC. 1. Real estate of a deceased person or any interest therein, may be sold upon petition of the executor or ad ministrator under license of the probate court in the following cases: First, When it shall appear to the court that the personal estate of a deceased person in the hands of his executor or administrator is insufficient to pay the debts of the deceased and the charges of administering his estate, or whenever it shall appear to the court that it is for the best interest of all persons interested in the estate that his real estate or some part thereof be sold for such purpose in lieu of disposing of the personal estate; Second, When it shall appear to the court that a sale of such real estate is necessary to preserve the estate or to prevent a sacrifice thereof, or to carry out the provisions of a will; Third, When a testator shall have given any legacy by will that is effectual to pass or charge real estate, and his personal property is insufficient to pay such legacy, together with his debts and charges of administration; Fourth, When a testator shall have given real estate to two or more persons, or when a person shall have died intestate, and it shall appear to the court that it is necessary or will be for the best interests of the persons interested in |