PocketLaw | Michigan Compiled Laws | (450.4501...450.4515)

(450.4501...450.4515)

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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.