There is a newer version of the Michigan Compiled Laws
2006 Michigan Compiled Laws - Mich. Comp. Laws § 450.2554 Commencement of action under § 450.2551 or 450.2552.
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Act 162 of 1982 450.2554 Commencement of action under § 450.2551 or 450.2552. Sec. 554. An action against a director, shareholder, or member 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.
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