MCL - 23-1993-3
Act 23 of 1993
| Document | Type | Description |
|---|---|---|
| Section 450.4301 | Section | Members; contribution. |
| Section 450.4302 | Section | Promise by member to contribute; enforcement; obligation to perform; rights of company; compromising obligation; enforcement by creditor of original member's obligation. |
| Section 450.4303 | Section | Distribution of assets; allocation; manner; basis. |
| Section 450.4304 | Section | Distribution; conditions for receiving. |
| Section 450.4305 | Section | Distributions to withdrawing member. |
| Section 450.4306 | Section | Distributions; demand, acceptance, and receipt of distribution; form. |
| Section 450.4307 | Section | Distributions prohibited under certain situations; exceptions; effect of distribution under subsection (1); remedies available; future payments to withdrawing members; effect of subsection (1) on third party; asserting legal or equitable rights. |
| Section 450.4308 | Section | Distribution; violating operating agreement or MCL 450.4307; liability of members or managers; presumption of assent; knowledge of violation; contribution; commencement of proceeding. |