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.
W. M. Myers,
CORPORATIONS-RESTRICTIONS ON HOLDING REAL ESTATE-lNTERPRETATION OF MICHIGAN'S CONSTITUTIONAL RESTRICTION,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol47/iss7/6