There is a newer version of the Michigan Compiled Laws
2006 Michigan Compiled Laws - Mich. Comp. Laws § 450.2310 Rescission of subscription under which part of shares issued and in which security interest retained as cancellation of shares.
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Act 162 of 1982 450.2310 Rescission of subscription under which part of shares issued and in which security interest retained as cancellation of shares. Sec. 310. Rescission by a corporation of a subscription under which a part of the shares subscribed for have been issued and in which the corporation retains a security interest, as provided in section 308(c), effects the cancellation of such shares.
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