There is a newer version
of
this Section
2019 Michigan Compiled Laws
Chapter 450 - Corporations
Act 23 of 1993 Michigan Limited Liability Company Act (450.4101 - 450.5200)
Article 5 - (450.4501...450.4515)
Section 450.4508 Encumbrance Against Membership Interest; Effect.
Universal Citation: MI Comp L § 450.4508 (2019)
450.4508 Encumbrance against membership interest; effect.
Sec. 508.
Unless otherwise provided in an operating agreement, the pledge or granting of a security interest, lien, or other encumbrance in or against any or all of the membership interest of a member does not cause the member to cease to be a member or to lose the power to exercise any rights or powers of a member.
History: 1993, Act 23, Eff. June 1, 1993
Disclaimer: These codes may not be the most recent version. Michigan may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
