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Michigan Compiled Laws, Chapter 450. Corporations § 450.4509

Current as of January 01, 2025 | Updated by Findlaw Staff

Sec. 509.(1) 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. 1

(2) 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.

1 M.C.L.A. § 450.4305.
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Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 450. Corporations § 450.4509 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-450-corporations/mi-comp-laws-450-4509/

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