In situations where a member agrees to voluntarily withdraw, all that may be required is the submission of a letter by the withdrawing member. In other cases, where a withdrawal is not voluntary, an operating agreement may include a voting procedure allowing the other members to vote for the removal of the member.
(1) A member may withdraw from a limited liability company only as provided in an operating agreement. A member withdrawing pursuant to an operating agreement may become entitled to a withdrawal distribution as described in section 305.
A professional limited liability company that is not in good standing remains in existence and may continue to transact business in this state.
Q: Can I change my mind and remove my name from the Donor Registry? Answer: Yes, anyone can remove their name from the registry by contacting Gift of Life Michigan, which then works with Secretary of State administration to make the change.