# Mich. Comp. Laws § 490.105: Domestic credit union; exemption from tax; exception; stock transfer tax

> Michigan · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.105

## Section

- **Citation:** Mich. Comp. Laws § 490.105
- **Heading:** Domestic credit union; exemption from tax; exception; stock transfer tax
- **Jurisdiction:** Michigan
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** MI Code / Chapter 490 / Act Act-215-of-2003 / Section 490.105

## Text

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

## Nearby sections

- [Mich. Comp. Laws § 490.101 Short title.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.101.md)
- [Mich. Comp. Laws § 490.102 Definitions; A to I.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.102.md)
- [Mich. Comp. Laws § 490.103 Definitions; M to S.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.103.md)
- [Mich. Comp. Laws § 490.104 "Credit union"; use in name or title; restrictions; "corporate" or "corporate central"; use in name.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.104.md)
- [Mich. Comp. Laws § 490.105 Domestic credit union; exemption from tax; exception; stock transfer tax.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.105.md)
- [Mich. Comp. Laws § 490.201 Administration and supervision by director; annual operating fee; limitation; report filed by domestic credit union; delinquent fee; waiver; amendment to bylaws or certificate of organization; examination of accounts, books, and records; "records" defined.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.201.md)
- [Mich. Comp. Laws § 490.202 Fee, fine, or other money received or collected by director; disposition; establishment of credit union regulatory fund.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.202.md)
- [Mich. Comp. Laws § 490.203 Office of financial and insurance services; hearing or proceeding; document retention; order or ruling.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.203.md)
- [Mich. Comp. Laws § 490.204 Immunity.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.204.md)
- [Mich. Comp. Laws § 490.205 Disclosure of information.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.205.md)
- [Mich. Comp. Laws § 490.206 Rules; orders; declaratory rulings.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.206.md)
- [Mich. Comp. Laws § 490.207 Examination by director; conduct; report; document, material, or information; confidentiality; disclosure; demand for production; request for discovery or disclosure; judicial review; appeal; best practices or other improvements; guidance to promote consistency and due process.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.207.md)
- [Mich. Comp. Laws § 490.208 Application for additional powers by domestic credit unions.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.208.md)
- [Mich. Comp. Laws § 490.209 Issuance of subpoena by circuit court.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.209.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.105. Check the current official text before relying on it. Not legal advice.