CORPORATIONS-RESTRICTIONS ON HOLDING REAL ESTATE-lNTERPRETATION OF MICHIGAN'S CONSTITUTIONAL RESTRICTION

While it is now well settled that a corporation has the power to acquire and hold real estate, this power may be limited by the charter creating the corporation, by legislative enactments of a general nature, or by specific constitutional provisions. When such a limitation is imposed by constitution, a problem of construction arises in interpreting it in a workable way after the social conditions motivating it have changed or disappeared.