This bill amends the Michigan Limited Liability Company Act by updating several sections and adding new provisions regarding the political activities of limited liability companies (LLCs). Notably, it introduces Section 210a, which prohibits both domestic and foreign LLCs from using their resources to support or oppose candidates, political parties, political committees, or ballot questions. Any such actions taken by an LLC are deemed invalid and subject to disgorgement. The bill also outlines the consequences for LLCs that violate this provision, including potential dissolution for domestic LLCs and revocation of authority for foreign LLCs.

Additionally, the bill modifies existing sections to clarify the powers and limitations of LLCs, including the administrator's responsibilities in filing documents and the judicial review process for decisions made by the administrator. It specifies that the lack of capacity or power of an LLC cannot invalidate lawful acts or property transfers, except in certain legal actions. The amendments aim to enhance regulatory clarity and ensure that LLCs do not engage in political activities that could undermine their intended business purposes.

Statutes affected:
House Introduced Bill: 450.4105