July 11, 2022
Business Licensing
Limited Liability Companies
Effective July 11, Senate Bill 926 (Public Act 137) modifies the definition of person in the limited liability company act to include nonprofit corporations.
"AN ACT to amend 1993 PA 23, entitled �An act to provide for the organization and regulation of limited liability companies; to prescribe their duties, rights, powers, immunities, and liabilities; to prescribe the powers and duties of certain state departments and agencies; and to provide for penalties and remedies,� by amending section 102 (MCL 450.4102), as amended by 2015 PA 157..."
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"AN ACT to amend 1993 PA 23, entitled �An act to provide for the organization and regulation of limited liability companies; to prescribe their duties, rights, powers, immunities, and liabilities; to prescribe the powers and duties of certain state departments and agencies; and to provide for penalties and remedies,� by amending section 102 (MCL 450.4102), as amended by 2015 PA 157..."
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