{"data":{"id":"us-mi/mich.-comp.-laws-450.4702","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 450.4702","heading":"Merger; approval of plan by members; withdrawal and distribution.","body":"Sec. 702.\n\n(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.\n\n(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.","path":["MI Code","Chapter 450","Act Act-23-of-1993"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-450-4702","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"7cd573c25f9ebdd5bec36230caac3fca974b1f0f9b2e5556c8e24b158e08df0a","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-450.4701","next":"us-mi/mich.-comp.-laws-450.4703"},"notice":"GroundRules: Original legal text. Not legal advice."}