Mich. Comp. Laws § 450.4509: Withdrawal of member; distribution; expulsion.
Where this section sits in the code
- MI Code
- Chapter 450
- Act Act-23-of-1993
Sec. 509.
A member may withdraw from a limited liability company only as provided in an operating agreement. A member withdrawing pursuant to an operating agreement may become entitled to a withdrawal distribution as described in section 305.
An operating agreement may provide for the expulsion of a member or for other events the occurrence of which will result in a person ceasing to be a member of the limited liability company.
Collected 2026-09-14T18:32:31Z. Source file · JSON