{"data":{"id":"us-mi/mich.-comp.-laws-450.1493a","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 450.1493a","heading":"Commencement of derivative proceeding by shareholder; criteria.","body":"Sec. 493a.\n\nA shareholder may not commence a derivative proceeding until all of the following have occurred:\n\nA written demand has been made upon the corporation to take suitable action.\n\nNinety days have expired from the date the demand was made unless the shareholder has earlier been notified that the demand has been rejected by the corporation or unless irreparable injury to the corporation would result by waiting for the expiration of the 90-day period.","path":["MI Code","Chapter 450","Act Act-284-of-1972"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-450-1493a","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"e7f6b6b43ef8979735fdf48231f513ddb8f00ffd4e9f1c266abe8a7a25c90f31","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-450.1492a","next":"us-mi/mich.-comp.-laws-450.1494"},"notice":"GroundRules: Original legal text. Not legal advice."}