Michigan Compiled Laws

Mich. Comp. Laws § 450.1554 (2026)

Action against director or shareholder; limitation.

✓ current as of July 2026

Find cases: SyfertCases citing this section MI-LEGlegislature.mi.gov JustiaChapter on Justia CornellLII Search CasesGoogle Scholar

BUSINESS CORPORATION ACT

Act 284 of 1972

450.1554 Action against director or shareholder; limitation.

Sec. 554.

An 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.

History: 1972, Act 284, Eff. Jan. 1, 1973

Notes of Decisions

Cited in 3 cases, 1998–2010 · leading case: Baks v. Moroun, 576 N.W.2d 413 (Mich. Ct. App. 1998).

Sort: Relevance Newest Treatment

Baks v. Moroun, 576 N.W.2d 413 (Mich. Ct. App. 1998). · cites it 3× “…to note that if a director has fulfilled the duties created by § 541a, then there can be no problem under § 551, and therefore, no cause of action under derivative § 554. The dissent's suggestion, post at 426, that the jurisdiction and venue provisions in § 489(1) "merely…”

Wise v. Verizon Commc'ns Inc., 600 F.3d 1180 (9th Cir. 2010). “at 706 (citing Mich. Comp. Laws §§ 450.1554 and 600.5807(8)).”

Estes v. Idea Eng'g & Fabricating, Inc, 649 N.W.2d 84 (Mich. Ct. App. 2002). “200(551) (establishing a three-year limitation period in § 554, MCL 450.1554; MSA 21.200[544], for suits arising from certain corporate actions).”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.