For AI agents: read the machine-readable documentation index at /llms.txt or the single-file full reference at /llms-full.txt.
Form a Business

Action against director or shareholder; limitation.

MCL 450.1554
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
450.1554. Action against director or shareholder; limitation. Sec. 554. An action against a director or shareholder for recovery upon a liability imposed by section 551 shall be commenced within 3 years after the cause of action accrues. An action under section 552 shall be commenced within 3 years after payment by the director to the corporation. 1972, Act 284, Eff. Jan. 1, 1973
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-450-1554Fetched: 10/20/2026

Starting a business in Michigan? Michigan LLC guide: costs and requirements