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Commencement of Action Under Mcl 450.2551 or 450.2552 - Mich. Comp. Laws Section 450.2554

Legal Research Home > Michigan Laws > Corporations > Commencement of Action Under Mcl 450.2551 or 450.2552 - Mich. Comp. Laws Section 450.2554

450.2554 Commencement of action under MCL 450.2551 or 450.2552.

Sec. 554.

An action against a director, shareholder, or member 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.

History: 1982, Act 162, Eff. Jan. 1, 1983

Section: Previous 450.2541 450.2545 450.2546 450.2548 450.2551 450.2552 450.2553 450.2554 450.2556 450.2561 450.2562 450.2563 450.2564 450.2565 450.2567 Next

Last modified: March 17, 2013