MCL - 23-1993-5
Act 23 of 1993
| Document | Type | Description |
|---|---|---|
| Section 450.4501 | Section | Members; admission; liability for acts, debts, or obligations. |
| Section 450.4502 | Section | Members; voting rights. |
| Section 450.4503 | Section | Members; obtaining certain financial statements and tax returns; inspecting and copying records; obtaining other information; formal accounting of company's affairs. |
| Section 450.4504 | Section | Membership interest as personal property. |
| Section 450.4505 | Section | Membership interest; assignment; liability of assignee; assignor as member; liability of assignor not released. |
| Section 450.4506 | Section | Assignee of membership interest; conditions for membership; rights and powers; liability for obligations of assignor. |
| Section 450.4507 | Section | Charging membership interest with payment of judgment; rights of judgment creditor; rights and powers of member; charging order as lien on membership interest; section as exclusive remedy. |
| Section 450.4508 | Section | Encumbrance against membership interest; effect. |
| Section 450.4509 | Section | Withdrawal of member; distribution; expulsion. |
| Section 450.4510 | Section | Commencement and maintenance of civil suit by company; conditions. |
| Section 450.4511 | Section | Investigation of allegations; stay of derivative proceeding. |
| Section 450.4512 | Section | Dismissal of derivative proceeding; findings; burden of proof; determination; “disinterested” defined. |
| Section 450.4513 | Section | Discontinued or settled derivative proceeding; court approval required; notice; expense. |
| Section 450.4514 | Section | Termination of derivative proceeding; court order. |
| Section 450.4515 | Section | Action in circuit court; grounds; order or grant of relief; “willfully unfair and oppressive conduct” defined. |