Loading chat...
MI SB0983
Bill
AI Summary
- Amends the definition of "business organization" in MCL 450.4705a to exclude domestic limited liability companies from the definition
- Clarifies that mergers involving only foreign limited liability companies must comply with section 705 rather than section 705a
- Establishes requirements for domestic limited liability companies to merge with other business organizations, including approval by unanimous member vote unless an operating agreement provides otherwise
- Provides dissenting members the right to withdraw and receive fair value of their interest if a merger is approved by less than unanimous vote under an operating agreement
- Takes effect only if Senate Bills 982 and 984 are also enacted into law
Legislative Description
Businesses: limited liability companies; definition of business organization; modify. Amends sec. 705a of 1993 PA 23 (MCL 450.4705a).
Communications: telecommunications
Last Action
Assigned Pa 0175'24 With Immediate Effect
12/30/2024
Committee Referrals
Government Operations11/12/2024
Regulatory Reform11/7/2024
Regulatory Affairs8/15/2024
Full Bill Text
No bill text available