{"data":{"id":"us-mi/mich.-comp.-laws-450.1305","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 450.1305","heading":"Subscription for shares.","body":"Sec. 305.\n\nA subscription for shares made before or after organization of a corporation is not enforceable unless in writing and signed by the subscriber.\n\nA subscription for shares of a corporation to be organized is irrevocable and may be accepted by the corporation for a period of 6 months, unless otherwise provided by the subscription agreement or unless all the subscribers consent to its revocation.\n\nA contract with a corporation to purchase its shares to be issued is a subscription agreement and not an executory contract to purchase shares, unless otherwise provided in the contract.","path":["MI Code","Chapter 450","Act Act-284-of-1972"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-450-1305","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"287c2f18be724f2b48a062c9db80a392ac931f8fa258fab59249ddf53f716c7c","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-450.1304a","next":"us-mi/mich.-comp.-laws-450.1306"},"notice":"GroundRules: Original legal text. Not legal advice."}