450.4803 Dissolution; action by attorney general; grounds; other actions not excluded.
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450.4803 Dissolution; action by attorney general; grounds; other actions not excluded.
Sec. 803.
(1)The attorney general may bring an action in the circuit court for the county in which the registered office of a limited liability company is located for dissolution of the limited liability company on the ground that the company has committed any of the following acts:
(a)Procured its organization through fraud.
(b)Repeatedly and willfully exceeded the authority conferred on it by law.
(c)Repeatedly and willfully conducted its business in an unlawful manner.
(d)If the limited liability company is a low-profit limited liability company, ceased to meet any of the requirements described in section 102(m) and for 60 days after it ceased to meet those requirements failed to file a certificate of amendment amending its name to conform with the requirements of section 204.
(2)This section does not exclude any other statutory or common law action by the attorney general for dissolution of a limited liability company.
History: 1993, Act 23, Eff. June 1, 1993 ;-- Am. 2008, Act 567 , Imd. Eff. Jan. 16, 2009