Michigan Compiled Laws § 450.2554 Commencement Of Action Under Mcl 450.2551 Or 450.2552.

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

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Last modified: October 10, 2016