(1) A limited cooperative association or foreign limited cooperative association may deliver to the Secretary of State for filing a statement of correction to correct a record previously delivered by the limited cooperative association or foreign limited cooperative association to the Secretary of State and filed by the Secretary of State, if at the time of filing the record contained false or erroneous information or was defectively signed.
(2) A statement of correction shall not state a delayed effective date and shall:
(a) Describe the record to be corrected, including its filing date, or contain an attached copy of the record as filed;
(b) Specify the incorrect information and the reason it is incorrect or the manner in which the signing was defective; and
(c) Correct the incorrect information or defective signature.
(3) When filed by the Secretary of State, a statement of correction is effective retroactively as of the effective date of the record the statement corrects, but the statement is effective when filed as to persons relying on the uncorrected record and adversely affected by the correction prior to its correction.