490.105 Domestic credit union; exemption from tax; exception; stock transfer tax.
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/mi/chapter-490/490-105A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
490.105 Domestic credit union; exemption from tax; exception; stock transfer tax.
Sec. 105.
A domestic credit union is exempt from taxation by this state or a political subdivision of this state except property taxes on real property. The shares of a domestic credit union are not subject to a stock transfer tax when issued by the credit union or when transferred from 1 member to another.
History: 2003, Act 215 , Eff. June 1, 2004