Michigan § 450.4306 - Distributions; demand, acceptance, and receipt of distribution; form.
Full text of Michigan Michigan Compiled Laws § 450.4306 — Distributions; demand, acceptance, and receipt of distribution; form., with citation guidance and answers to common questions.
§ 450.4306. Distributions; demand, acceptance, and receipt of distribution; form.
Except as provided in an operating agreement, a member, regardless of the nature of the member's contribution, has no right to demand and receive a distribution from a limited liability company in any form other than cash, and a member may not be compelled to accept from a limited liability company a distribution of an asset in kind to the extent that the percentage of the asset distributed to the member exceeds a percentage of that asset that is equal to the percentage in which the member shares in distributions from the limited liability company.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 450.4306
What does Michigan Compiled Laws § 450.4306 cover?
Section 450.4306 ("Distributions; demand, acceptance, and receipt of distribution; form.") 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 § 450.4306?
A common citation format is "Michigan Compiled Laws § 450.4306" (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 § 450.4306 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.