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Form a Business

Encumbrance against membership interest; effect.

MCL 450.4508
in effect
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450.4508. Encumbrance against membership interest; effect. Sec. 508. Unless otherwise provided in an operating agreement, the pledge or granting of a security interest, lien, or other encumbrance in or against any or all of the membership interest of a member does not cause the member to cease to be a member or to lose the power to exercise any rights or powers of a member. 1993, Act 23, Eff. June 1, 1993
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-450-4508Fetched: 10/20/2026

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