Michigan § 486.309 - Stock deemed personal property; certificates of stock, transfer; report to assessing officer.
Full text of Michigan Michigan Compiled Laws § 486.309 — Stock deemed personal property; certificates of stock, transfer; report to assessing officer., with citation guidance and answers to common questions.
§ 486.309. Stock deemed personal property; certificates of stock, transfer; report to assessing officer.
The stock of every such corporation shall be deemed personal property, and certificates of stock shall be issued to each stockholder on the full amount of his subscription being paid in; the said certificates of stock may be transferable, but the transfer shall not be valid unless a record shall be made of the same in the books of the company, in such form as the directors shall prescribe; and it shall be the duty of the directors to make out a written statement of all the stockholders, and the amount of stock held by each, when legally called upon by the proper assessing officer.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 486.309
What does Michigan Compiled Laws § 486.309 cover?
Section 486.309 ("Stock deemed personal property; certificates of stock, transfer; report to assessing officer.") 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 § 486.309?
A common citation format is "Michigan Compiled Laws § 486.309" (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 § 486.309 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.