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Withdrawal of member; distribution; expulsion.

MCL 450.4509
in effect
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450.4509. Withdrawal of member; distribution; expulsion. 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. (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. 1993, Act 23, Eff. June 1, 1993; Am. 1997, Act 52, Imd. Eff. July 1, 1997
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-450-4509Fetched: 10/20/2026

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