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2020 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 450.4501 Members; Admission; Liability for Acts, Debts, or Obligations.
- Section 450.4502 Members; Voting Rights.
- Section 450.4503 Members; Obtaining Certain Financial Statements and Tax Returns; Inspecting and Copying Records; Obtaining Other Information; Formal Accounting of Company's Affairs.
- Section 450.4504 Membership Interest as Personal Property.
- Section 450.4505 Membership Interest; Assignment; Liability of Assignee; Assignor as Member; Liability of Assignor Not Released.
- Section 450.4506 Assignee of Membership Interest; Conditions for Membership; Rights and Powers; Liability for Obligations of Assignor.
- Section 450.4507 Charging Membership Interest With Payment of Judgment; Rights of Judgment Creditor; Rights and Powers of Member; Charging Order as Lien on Membership Interest; Section as Exclusive Remedy.
- Section 450.4508 Encumbrance Against Membership Interest; Effect.
- Section 450.4509 Withdrawal of Member; Distribution; Expulsion.
- Section 450.4510 Commencement and Maintenance of Civil Suit by Company; Conditions.
- Section 450.4511 Investigation of Allegations; Stay of Derivative Proceeding.
- Section 450.4512 Dismissal of Derivative Proceeding; Findings; Burden of Proof; Determination; “Disinterested” Defined.
- Section 450.4513 Discontinued or Settled Derivative Proceeding; Court Approval Required; Notice; Expense.
- Section 450.4514 Termination of Derivative Proceeding; Court Order.
- Section 450.4515 Action in Circuit Court; Grounds; Order or Grant of Relief; “Willfully Unfair and Oppressive Conduct” Defined.
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