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2021 Michigan Compiled Laws
Chapter 450 - Corporations
Act 23 of 1993 - Michigan Limited Liability Company Act (450.4101 - 450.5200)
Article 3 - (450.4301...450.4308)
- Section 450.4301 - Members; Contribution.
- Section 450.4302 - Promise by Member to Contribute; Enforcement; Obligation to Perform; Rights of Company; Compromising Obligation; Enforcement by Creditor of Original Member's Obligation.
- Section 450.4303 - Distribution of Assets; Allocation; Manner; Basis.
- Section 450.4304 - Distribution; Conditions for Receiving.
- Section 450.4305 - Distributions to Withdrawing Member.
- Section 450.4306 - Distributions; Demand, Acceptance, and Receipt of Distribution; Form.
- Section 450.4307 - Distributions Prohibited Under Certain Situations; Exceptions; Effect of Distribution Under Subsection (1); Remedies Available; Future Payments to Withdrawing Members; Effect of Subsection (1) on Third Party; Asserting Legal or Equitable Rights.
- Section 450.4308 - Distribution; Violating Operating Agreement or MCL 450.4307; Liability of Members or Managers; Presumption of Assent; Knowledge of Violation; Contribution; Commencement of Proceeding.
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