Section 450.2307 - Subscription for shares or membership; enforceability; irrevocability; acceptance; consent to revocation; subscription agreement(1) A subscription for shares or membership made before or after a corporation is formed is not enforceable unless it is in writing and signed by the subscriber.(2) A subscription for shares of or membership in a corporation to be formed is irrevocable and the corporation may accept it for a period of 6 months, unless otherwise provided in the subscription agreement or unless all of the subscribers consent to its revocation.(3) A contract with a corporation to purchase its shares to be issued is a subscription agreement and not an executory contract to purchase shares, unless otherwise provided in the contract.Amended by 2014, Act 557,s 39, eff. 1/15/2015.1982, Act 162, eff. 1/1/1983.