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Michigan · Snapshot open-us-law v2026.08, retrieved 2026-09-14

Mich. Comp. Laws § 450.4702: Merger; approval of plan by members; withdrawal and distribution.

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Where this section sits in the code
  1. MI Code
  2. Chapter 450
  3. Act Act-23-of-1993

Sec. 702.

(1) A plan of merger shall be submitted to the members of each constituent company for approval. A unanimous vote of the members entitled to vote in each constituent company is required to approve a merger, unless an operating agreement of a constituent company provides otherwise.

(2) If an operating agreement of a constituent company provides for approval of a merger by less than unanimous vote of members entitled to vote and the merger is approved, a member that did not vote in favor of the merger may withdraw from the limited liability company and receive, within a reasonable time, the fair value of the member's interest in the limited liability company, based upon the member's share of distributions as determined under section 303.

Collected 2026-09-14T18:32:31Z. Source file · JSON

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