Mich. Admin. Code R. 460.2511 - Capital stock records; retention periods

Rule 11. The following capital stock records shall be retained for the periods listed:

(a) Capital stock ledgers or other records showing the same information	6 years after the stockholder's account is closed. For the purpose of this subdivision, a stockholder's account may be treated as closed account at the time that such stock- holder ceases to be a holder of record of the particular class of stock of the company, and the 6-year retention period prescribed herein shall run from that date. If such person subsequently acquires shares of capital stock of the company and thus again becomes a stockholder of the company, the record of such acquisition shall be treated as a new stockholder account.
(b) Capital stock subscription accounts, warrants, requests for allotments, and other essential papers related thereto.	2 years after settlement.
(c) Stubs or similar records of capital stock certificate issuance where not used as capital stock ledger record.	6 years after cancellation of certificate. If this record serves the purpose of a capital stock ledger, subdivision (a) is applicable.
(d) Stock transfer registers or sheets or similar records.	6 years after last entry on page or sheet of the record.
(e) Papers pertaining to, or supporting transfers of, capital stock as follows:
(i) Papers that are recorded officially in a court or in the office of some other public recording authority; and other papers presented by any bank or trust company requesting transfers in its capacity as a fiduciary.	Destroy at option or return to stockholder.
(ii) Any other papers not described in subdivision (e) (i) of this rule.	3 years from the date of transfer.
(f) Canceled capital stock certificates where not used as capital stock ledger records.	6 years after cancellation. If this record serves the purpose of a capital stock ledger, subdivision (a) is applicable.
(g) Change of address notices of stockholders.	Destroy at option after changes are recorded.
(h) Bonds of indemnity and affidavits covering issuances of stock certificates to replace lost certificates.	6 years after expiration of bonds.
(i) Letters, notices, reports, statements, and other communications distributed to all stockholders of a particular class as follows:
(i) Formal communications addressed to all stockholders of a particular class, including annual reports to stockholders, notices of annual and special meetings of stockholders, and other notices, letters, reports, or statements relating to corporate or stockholder actions.	Life of the corporation.
(ii) Interim reports of operations, speeches of corporate officers and notices of change of corporate address or telephone numbers and similar information.	6 years after the date thereof.
(j) Dividend registers lists or similar records. (k) Paid dividend checks.	6 years. 6 years.
(l) Third party dividend orders.	6 years after rescission order.

Notes

Mich. Admin. Code R. 460.2511

1979 AC; 1980 AACS