Mich. Comp. Laws § 450.4508

Current through Public Act 148 of the 2024 Legislative Session
Section 450.4508 - Encumbrance against membership interest; effect

Unless otherwise provided in an operating agreement, the pledge or granting of a security interest, lien, or other encumbrance in or against any or all of the membership interest of a member does not cause the member to cease to be a member or to lose the power to exercise any rights or powers of a member.

MCL 450.4508

1993, Act 23, eff. 6/1/1993 .