{"data":{"id":"us-mi/mich.-comp.-laws-450.4306","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 450.4306","heading":"Distributions; demand, acceptance, and receipt of distribution; form.","body":"Sec. 306.\n\nExcept as provided in an operating agreement, a member, regardless of the nature of the member's contribution, has no right to demand and receive a distribution from a limited liability company in any form other than cash, and a member may not be compelled to accept from a limited liability company a distribution of an asset in kind to the extent that the percentage of the asset distributed to the member exceeds a percentage of that asset that is equal to the percentage in which the member shares in distributions from the limited liability company.","path":["MI Code","Chapter 450","Act Act-23-of-1993"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-450-4306","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"f4fd01e158545334bf330ff294c18d8202f3bc2894eef807bd73f4f51ed29f6e","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-450.4305","next":"us-mi/mich.-comp.-laws-450.4307"},"notice":"GroundRules: Original legal text. Not legal advice."}