Section 450.5008 – Activities Not Considered to Be Transacting Business in State; Applicability of Section to Other State Laws.
450.5008 Activities not considered to be transacting business in state; applicability of section to other state laws. Sec. 1008. (1) Without excluding other activities that may not constitute transacting business in this state, a foreign limited liability company is not considered to be transacting business in this state, for the purposes of this act, because […]
Section 450.5009 – Making or Purchasing Loans or Participation or Interest in Loans.
450.5009 Making or purchasing loans or participation or interest in loans. Sec. 1009. (1) A foreign limited liability company may acquire or, through another person entitled to transact business in this state, may make loans, or participations or interests in loans, insured or guaranteed in whole or in part by the federal housing administration or […]
Section 450.4910 – Merger; Limitation.
450.4910 Merger; limitation. Sec. 910. A professional limited liability company may merge only with other limited liability companies whose members and managers are licensed persons permitted to be members or managers under this article or other entities that are licensed persons or whose shareholders, partners, or other owners, members, or managers are licensed persons permitted […]
Section 450.5001 – Foreign Limited Liability Company; Laws of Jurisdiction.
450.5001 Foreign limited liability company; laws of jurisdiction. Sec. 1001. Subject to the constitution of this state, the laws of the jurisdiction under which a foreign limited liability company is organized shall govern its organization and internal affairs, and a foreign limited liability company shall not be denied a certificate of authority to transact business […]
Section 450.5002 – Transacting Business; Certificate of Authority by Foreign Limited Liability Company Required; Application; Filing; Contents.
450.5002 Transacting business; certificate of authority by foreign limited liability company required; application; filing; contents. Sec. 1002. Before transacting business in this state, a foreign limited liability company shall obtain a certificate of authority from the administrator. To obtain a certificate of authority, a foreign limited liability company shall file with the administrator an application, […]
Section 450.4808 – Winding Up; Distribution of Assets; Order; Filing Tax Returns and Paying Tax Obligations.
450.4808 Winding up; distribution of assets; order; filing tax returns and paying tax obligations. Sec. 808. (1) Upon the winding up of a limited liability company, the assets shall be distributed in the following order: (a) To creditors, including members who are creditors, to the extent permitted by law, in satisfaction of liabilities of the […]
Section 450.4901 – Limited Liability Company; Rendering Professional Services; Applicability of Article.
450.4901 Limited liability company; rendering professional services; applicability of article. Sec. 901. (1) A limited liability company formed to render 1 or more professional services, as defined in section 902 may be organized under this article as a professional limited liability company. (2) A limited liability company formed as a professional limited liability company and […]
Section 450.4902 – Definitions.
450.4902 Definitions. Sec. 902. As used in this article: (a) “Licensed person” means an individual who is licensed or otherwise legally authorized to practice a professional service by a court, department, board, commission, or an agency of this state or another jurisdiction, any corporation or professional services corporation all of whose shareholders are licensed persons, […]
Section 450.4903 – Professional Limited Liability Company; Purpose Stated in Articles of Organization; Name.
450.4903 Professional limited liability company; purpose stated in articles of organization; name. Sec. 903. (1) One or more licensed persons may organize and become members of a professional limited liability company. (2) The articles of organization of a professional limited liability company shall state, as its purposes, that the company is formed to render specified […]
Section 450.4904 – Rendering Professional Services; Organization of Professional Liability Company or Professional Limited Liability Company; License or Legal Authorization of Persons Required.
450.4904 Rendering professional services; organization of professional liability company or professional limited liability company; license or legal authorization of persons required. Sec. 904. (1) Except as provided in this section or otherwise prohibited, a professional limited liability company may render 1 or more professional services, and each member and manager must be a licensed person […]