{"data":{"id":"us-mi/mich.-comp.-laws-450.1554","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 450.1554","heading":"Action against director or shareholder; limitation.","body":"Sec. 554.\n\nAn action against a director or shareholder 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.","path":["MI Code","Chapter 450","Act Act-284-of-1972"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-450-1554","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"cff5d8c7b9a6f74684434508fc1a02ff815fceb9269130686a9908f1858fa1e5","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-450.1553","next":"us-mi/mich.-comp.-laws-450.1561"},"notice":"GroundRules: Original legal text. Not legal advice."}