Section 450.5004 – Certificate of Authority; Satisfaction of MCL 450.4204 Required for Issuance.
450.5004 Certificate of authority; satisfaction of MCL 450.4204 required for issuance. Sec. 1004. The department shall not issue a certificate of authority to a foreign limited liability company unless the name of the company satisfies the requirements of section 204. If the name of a foreign limited liability company does not satisfy the requirements of […]
Section 450.5005 – Inaccurate Application; Correcting Statement; Certificate; Exception; Survivor of Merger; Certificate Attesting to Merger; Annual Statement.
450.5005 Inaccurate application; correcting statement; certificate; exception; survivor of merger; certificate attesting to merger; annual statement. Sec. 1005. (1) If any statement in the application for certificate of authority of a foreign limited liability company was false when made or any arrangements or other facts described have changed, making the application inaccurate in any respect, […]
Section 450.5006 – Certificate of Withdrawal; Contents, Form, Manner, and Execution of Application.
450.5006 Certificate of withdrawal; contents, form, manner, and execution of application. Sec. 1006. (1) A foreign limited liability company authorized to transact business in this state may withdraw from this state upon receiving from the administrator a certificate of withdrawal. In order to obtain the certificate, the foreign limited liability company shall file an application […]
Section 450.5007 – Foreign Limited Liability Company; Transacting Business Without Certificate of Authority.
450.5007 Foreign limited liability company; transacting business without certificate of authority. Sec. 1007. (1) A foreign limited liability company transacting business in this state without a certificate of authority shall not maintain an action, suit, or proceeding in a court of this state until it has obtained a certificate of authority. This prohibition applies to […]
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 450.4903 – 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 […]
Section 450.4905 – Professional Limited Liability Company; License Required; “Employee” Explained; Effect of Act on Laws Applicable to Professional Relationship and Liabilities; Liability for Negligent or Wrongful Acts.
450.4905 Professional limited liability company; license required; “employee” explained; effect of act on laws applicable to professional relationship and liabilities; liability for negligent or wrongful acts. Sec. 905. (1) A professional limited liability company shall not render professional services within this state except through its members, managers, employees, and agents who are licensed or otherwise […]
Section 450.4906 – Disqualification, Restriction, or Limitation on Persons Rendering Professional Service; Severing Employment and Financial Interest; Noncompliance.
450.4906 Disqualification, restriction, or limitation on persons rendering professional service; severing employment and financial interest; noncompliance. Sec. 906. If a member, manager, employee, or agent of a professional limited liability company becomes legally disqualified to render the professional services rendered by the company or accepts employment that, pursuant to existing law, places restrictions or limitations […]
Section 450.4907 – Professional Limited Liability Company; Prohibited Activities; Exception.
450.4907 Professional limited liability company; prohibited activities; exception. Sec. 907. (1) A professional limited liability company shall not engage in any business other than the rendering of the professional services for which it was specifically organized. (2) This act does not prohibit the company from investing its funds in real estate, mortgages, stocks, bonds, or […]