{"data":{"id":"us-mi/mich.-comp.-laws-450.2307","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 450.2307","heading":"Subscription for shares or membership; enforceability; irrevocability; acceptance; consent to revocation; subscription agreement.","body":"Sec. 307.\n\n(1) A subscription for shares or membership made before or after a corporation is formed is not enforceable unless it is in writing and signed by the subscriber.\n\n(2) A subscription for shares of or membership in a corporation to be formed is irrevocable and the corporation may accept it for a period of 6 months, unless otherwise provided in the subscription agreement or unless all of the subscribers consent to its revocation.\n\n(3) A 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-162-of-1982"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-450-2307","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"7c28e80de34231e35b2abd146c01d066606b43fb07ff3b47204c008862ed1aa6","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-450.2305","next":"us-mi/mich.-comp.-laws-450.2308"},"notice":"GroundRules: Original legal text. Not legal advice."}