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 […]
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 450.4707 – Conversion of Domestic Partnership or Domestic Limited Partnership to Limited Liability Company.
450.4707 Conversion of domestic partnership or domestic limited partnership to limited liability company. Sec. 707. (1) A domestic partnership or domestic limited partnership may convert to a limited liability company in accordance with this section. (2) The terms and conditions of a conversion under this section shall be approved by the partners in the manner […]
Section 450.4708 – Conversion Into Business Organization; Requirements; Effectiveness of Certificate of Conversion; Foreign Business Organization as Surviving Business Organization; “Business Organization” and “Entity” Defined.
450.4708 Conversion into business organization; requirements; effectiveness of certificate of conversion; foreign business organization as surviving business organization; “business organization” and “entity” defined. Sec. 708. (1) A domestic limited liability company may convert into a business organization if all of the following requirements are satisfied: (a) The conversion is permitted by the law that will […]
Section 450.4709 – Conversion of Business Organization Into Domestic Limited Liability Company; Requirements; Effectiveness of Certificate of Conversion.
450.4709 Conversion of business organization into domestic limited liability company; requirements; effectiveness of certificate of conversion. Sec. 709. (1) A business organization may convert into a domestic limited liability company if all of the following requirements are satisfied: (a) The conversion is permitted by the law that governs the internal affairs of the business organization, […]
Section 450.4801 – Dissolution and Winding Up; Conditions.
450.4801 Dissolution and winding up; conditions. Sec. 801. A limited liability company is dissolved and its affairs shall be wound up when the first of the following occurs: (a) Automatically, if a time specified in the articles of organization is reached. (b) If a vote of the members or other event specified in the articles […]
Section 450.4802 – Dissolution; Decree by Circuit Court.
450.4802 Dissolution; decree by circuit court. Sec. 802. Upon application by or for a member, the circuit court for the county in which the registered office of a limited liability company is located may decree dissolution of the company whenever the company is unable to carry on business in conformity with the articles of organization […]