Michigan § 450.4808 - Winding up; distribution of assets; order; filing tax returns and paying tax obligations.
Full text of Michigan Michigan Compiled Laws § 450.4808 — Winding up; distribution of assets; order; filing tax returns and paying tax obligations., with citation guidance and answers to common questions.
§ 450.4808. Winding up; distribution of assets; order; filing tax returns and paying tax obligations.
Upon the winding up of a limited liability company, the assets shall be distributed in the following order:
To creditors, including members who are creditors, to the extent permitted by law, in satisfaction of liabilities of the limited liability company other than liabilities for distributions to members under section 304 or 305. Reasonable provision shall be made for debts, liabilities, and obligations that are not liquidated but will not be barred under section 806 or 807.
Except as provided in an operating agreement, to members and former members in satisfaction of liabilities for distributions under sections 304 and 305.
Except as provided in an operating agreement, all remaining assets to members and former members in accordance with their shares of distributions as determined under section 303.
Before the assets of a limited liability company are distributed pursuant to subsection (1), the limited liability company shall file tax returns and pay tax obligations as required by Act No. 122 of the Public Acts of 1941, being sections 205.1 to 205.31 of the Michigan Compiled Laws.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 450.4808
What does Michigan Compiled Laws § 450.4808 cover?
Section 450.4808 ("Winding up; distribution of assets; order; filing tax returns and paying tax obligations.") 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 § 450.4808?
A common citation format is "Michigan Compiled Laws § 450.4808" (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 § 450.4808 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.