{"data":{"id":"us-mi/mich.-comp.-laws-486.114","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 486.114","heading":"Realty; purchase, holding, disposal; limitations.","body":"Sec. 14.\n\nEach and every company formed under this act shall have authority to purchase and hold land adjacent to or within convenient distance of any canal constructed under the provisions of this act, for the purpose of platting and selling to manufacturers, their operatives or to other persons, and shall have authority to lease, mortgage or otherwise dispose of real or personal property: Provided, That no land shall be held by said company for the purposes stated in this section for a longer period than 10 years from the time when the same shall have been acquired, nor exceeding in amount 2,000 acres.","path":["MI Code","Chapter 486","Act Act-202-of-1887"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-486-114","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"4e83191f60e6c015c1c704ab81a38ff87d97639e6f220f8ddbd4814251d72a14","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-486.113","next":"us-mi/mich.-comp.-laws-486.115"},"notice":"GroundRules: Original legal text. Not legal advice."}