Mich. Comp. Laws » Michigan Compiled Laws / Chapter 450 / Act 23 of 1993
Michigan Compiled Laws

Mich. Comp. Laws § 450.4908 (2026)

Sale or transfer of membership interest; restrictions.

✓ current as of July 2026
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MICHIGAN LIMITED LIABILITY COMPANY ACT


Act 23 of 1993


450.4908 Sale or transfer of membership interest; restrictions.

Sec. 908.

    (1) A membership interest in a professional limited liability company shall not be sold or transferred except to a person who is eligible to be a member of the company or to the personal representative or estate of a deceased or legally incompetent member. The personal representative or estate of the member may continue to hold a membership interest for a reasonable period but shall not be authorized to participate in any decisions concerning the rendering of professional service.

    (2) The articles of organization or an operating agreement may provide specifically for additional restrictions on the transfer of membership interests.

History: 1993, Act 23, Eff. June 1, 1993

Notes of Decisions
Cited in 1 case (1 in the last 5 years), 2021–2021 · leading case: in Re Lewerenz Est. (Mich. Ct. App. 2021).
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in Re Lewerenz Est. (Mich. Ct. App. 2021). · cites it 2× “And MCL 450.4908(1) provides as follows: A membership interest in a [PLLC] shall not be sold or transferred except to a person who is eligible to be a member of the company or to the personal representative or estate of a deceased or legally incompetent member.”
— Mich. Comp. Laws § 450.4908(1) — 1 case
in Re Lewerenz Est. (Mich. Ct. App. 2021). “And MCL 450.4908(1) provides as follows: A membership interest in a [PLLC] shall not be sold or transferred except to a person who is eligible to be a member of the company or to the personal representative or estate of a deceased or legally incompetent member.”
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