Michigan § 450.1305 - Subscription for shares.
Full text of Michigan Michigan Compiled Laws § 450.1305 — Subscription for shares., with citation guidance and answers to common questions.
§ 450.1305. Subscription for shares.
A subscription for shares made before or after organization of a corporation is not enforceable unless in writing and signed by the subscriber.
A subscription for shares of a corporation to be organized is irrevocable and may be accepted by the corporation for a period of 6 months, unless otherwise provided by the subscription agreement or unless all the subscribers consent to its revocation.
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.
Frequently Asked Questions About Michigan § 450.1305
What does Michigan Compiled Laws § 450.1305 cover?
Section 450.1305 ("Subscription for shares.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 450.1305?
A common citation format is "Michigan Compiled Laws § 450.1305" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 450.1305 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.