Michigan § 450.4304 - Distribution; conditions for receiving.
Full text of Michigan Michigan Compiled Laws § 450.4304 — Distribution; conditions for receiving., with citation guidance and answers to common questions.
§ 450.4304. Distribution; conditions for receiving.
(1) Except as otherwise provided in this act and subject to subsection (2), a member is entitled to receive a distribution from a limited liability company before the withdrawal of the member from the limited liability company or before the dissolution and winding up of the limited liability company to the extent and at the times or upon the happening of the events specified in an operating agreement.
(2) If an operating agreement does not address a member's right to receive a distribution before the withdrawal of the member from the limited liability company or before the dissolution and winding up of the limited liability company, the unanimous approval of the members is required for any distribution to that member.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 450.4304
What does Michigan Compiled Laws § 450.4304 cover?
Section 450.4304 ("Distribution; conditions for receiving.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 450.4304?
A common citation format is "Michigan Compiled Laws § 450.4304" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 450.4304 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.