{"data":{"id":"us-mi/mich.-comp.-laws-450.1308","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 450.1308","heading":"Cancellation of shares upon rescission of subscription.","body":"Sec. 308.\n\nRescission by a corporation of a subscription under which a part of the shares subscribed for have been issued and in which the corporation retains a security interest, as provided in subdivision (c) of section 306, effects the cancellation of such shares.","path":["MI Code","Chapter 450","Act Act-284-of-1972"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-450-1308","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"bcbee7b9c380c6e84064cc14c33e909e667fdaf98c380f67d3ab49da4aedd131","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-450.1307","next":"us-mi/mich.-comp.-laws-450.1314"},"notice":"GroundRules: Original legal text. Not legal advice."}